by Calculated Risk on 9/10/2019 04:37:00 PM
Tuesday, September 10, 2019
From the Port of Los Angeles: August Cargo Another Record Breaker at Port of Los Angeles
For the fifth consecutive month, the Port of Los Angeles has set a new single-month cargo record. In August, the Port moved 861,081 Twenty-Foot Equivalent Units (TEUs), the busiest August in the Port’s 112-year history and a 4.2% increase over the same period last year.
Eight months into 2019 overall volumes have increased 5.7% compared to 2018, when the Port set an all-time cargo record.
“The final months of 2018 ended with an extraordinary influx of imports to beat expected tariffs on China-origin goods,” Seroka added. “We don’t expect to see those kind of volumes in the months ahead. We need a negotiated settlement of the U.S.-China trade war to restore global trade stability.”
August 2019 imports increased 4.1% to 437,613 TEUs compared to the previous year. Exports decreased 10% to 146,284 TEUs, the 10th consecutive monthly decline of exports.
Posted by Calculated Risk on 9/10/2019 04:37:00 PM