LA January volume down 5.4pc to 806,000 TEU on pre-tariff buying
THE Port of Los Angeles posted a year-on-year 5
THE Port of Los Angeles posted a year-on-year 5.4 per cent decline in throughput to 806,000 TEU, a drop attributed to heightened imports last year before threatened US tariffs could bite.
'We anticipated that tariffs would continue to impact cargo volumes as we moved into 2020, and our January volumes reflect that ongoing trend,' said port executive director Gene Seroka.
'The coronavirus, which prompted China's central government to extend the Chinese New Year holiday, added a new layer of uncertainty to global trade,' he said.
January imports decreased 3.5 per cent to 414,731 TEU compared to the previous year. After 14 months of consecutive declines due to tariffs on American goods, exports increased 2.2 per cent to 148,206 TEU. But empties fell 12.4 per cent to 243,207 TEU.