Following the COVID-19 situation, the busiest and largest container port in US, Port of Los Angeles, saw a decrease in its cargo volumes. In fact, the port managed to move 544.037 TEUs during February, meaning a 22.9% drop in comparison to the same month last year.
Port of Los Angeles further announced that its February imports marked a decrease of 22.5%, to 270.025 TEUs compared to 2019.
At the same time, exports dropped by 5.7%, to 134.468 TEUs. As for the empty containers, were by 35% down to 139.544 TEUs.
While cargo volumes are important, the coronavirus is first and foremost a public health crisis that needs to be brought under control with the collaboration of governments and medical experts from around the world. We are more interconnected than ever with our global partners so it’s no surprise that Trans-Pacific maritime trade has been significantly impacted.
…said Port of Los Angeles Executive Director Gene Seroka.
In light of the coronavirus outbreak, for the first two months of 2020 the container volumes were down by 13%, to 1.350.181 TEUs.
With the factory production in China remaining at low levels, soft volumes in March are expected to be soft, according to Port of Los Angeles.
Looking ahead to anticipated manufacturing improvements, we will need to return empty containers to Asia and push lingering U.S. export boxes out swiftly. We’re actively working with our supply chain partners to be prepared for a cargo surge once production levels ramp up.
…Gene Seroka concluded.
Overall, COVID-19 has proved to bring negative impacts upon freight rates, trade market, ports and ofcourse human health.
