THE Port of Los Angeles expects cargo to decline because of the anticipated end of the hyper importing caused by retailers stocking up ahead of expected tariffs in the Sino-US trade war
THE Port of Los Angeles expects cargo to decline because of the anticipated end of the hyper importing caused by retailers stocking up ahead of expected tariffs in the Sino-US trade war. For the coming fiscal year, the Port of Los Angeles expects cargo volumes to reach 9.4 million TEU for the fiscal year ending June 30, 2020, reports New York FreightWaves.
The forecast amount would be a fall from the 9.53 million TEU the port expects to handle during the current fiscal year, which was a four per cent jump from the previous fiscal year.
Still, container volumes could surprise to the upside. Los Angeles had expected to handle only 9.24 million TEU through the current fiscal year.
Port spokesman Phillip Sanfield said the forecast is based on best estimates gleaned from discussions with shippers, ocean carriers and terminal operators.
'It's certainly an art and not a science, At the end of the day, it's obviously just that - it's a forecast,' ,' Mr Sanfield said.
WORLD SHIPPING
