CONTAINER traffic at the nation's busiest import hub is projected to decline ten per cent in the second half of the year, reports New York's FreightWaves
CONTAINER traffic at the nation's busiest import hub is projected to decline ten per cent in the second half of the year, reports New York's FreightWaves. The Port of Los Angeles is bracing for a double-digit drop in container volumes as importers pull back following months of frontloading and rising costs tied to US tariffs.
'It's my view that the second half of this year, beginning July 1 through the end of the year, we're going to start to see a drop in cargo,' said port executive director Gene Seroka.
'The drop, I think, is going to be at least 10 per cent at the nation's largest port here in Los Angeles.'
Mr Seroka stated import demand has been sated by months of frontloading by shippers, swelling inventories for household goods.
Los Angeles saw months of record- or near-record volumes since the early peak season this past summer.
'Folks have brought in so much cargo, it's already here, and they don't need to keep buying at that pace,' said Mr Seroka.
'And I'm talking about furniture, appliances, electronics, TVs, couches, dining room tables, products that are staples and are large that take up a lot of containers.'
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