Long Beach port suffers 9.8pc drop in February to 538,428 TEU
THE Port of Long Beach in February saw cargo volumes dive in February as fewer ships called amid the outbreak of the coronavirus and the lingering effects of the US-China trade war
THE Port of Long Beach in February saw cargo volumes dive in February as fewer ships called amid the outbreak of the coronavirus and the lingering effects of the US-China trade war.
Terminal operators and dockers moved 538,428 TEU last month, down 9.8 per cent compared to February 2019. Imports fell by 17.9 per cent to 248,592 TEU, while exports rose by 19.3 per cent to 125,559 TEU. Empty containers sent overseas dropped by 12.8 per cent to 164,277 TEU.
Although a phase one preliminary trade agreement was signed in January by the US and China, some US$370 billion in Chinese goods remain under the increased tariffs.
The coronavirus has led to a spate of cancelled sailings and a reduction in cargo moving through America's second-busiest port, reported Hellenic Shipping News Worldwide.
'With the extended factory closures and slowdown of goods movement in China and other Asian countries in February due to Lunar New Year and COVID-19, we are seeing shipping lines needing to cancel some sailings,' said port of Long Beach executive director Mario Cordero. 'Once the virus is contained, we may see a surge of cargo, and our terminals, labour and supply chain will be ready to handle it.'
'Along with the economic effects of reduced trade due to the health situation, we also have the first confirmed cases of COVID-19 in Long Beach. We hope for the swift recovery of these individuals,' said Long Beach Harbour Commission president Bonnie Lowenthal.