Port of LA director fears permanent loss of imports
Gene Seroka reports worst May in more than a decade, predicts 15% of import cargo won’t return.
The Port of Los Angeles has been battered by its slowest May since the recession of 2009.
Year-over-year volume was down 30%, from the 828,662 twenty-foot equivalent units (TEUs) handled in May 2019 to 581,664 TEUs this year.
“Key factors included America’s shutdown economically due to COVID-19’s pandemic. There’s less consumer purchasing, less U.S. manufacturing. We also see the continuing negative impact of the trade war between the United States and China and the policies that have been in place,” said Port of LA Executive Director Gene Seroka.