Port of Los Angeles cargo volumes drop in May
The Port of Los Angeles moved 581,665 Twenty-Foot Equivalent Units (TEUs) in May, a 29.8% decrease compared to last year’s record-setting May. Five months into 2020, overall cargo volumes have decreased 18.6% compared to 2019. Port Executive Director Gene Seroka announced the May volumes in a news briefing today.
“Compared to last May’s historic volumes, the surge in canceled sailings due to COVID-19 and the trade war, along with shifts in liner services, all contributed to significantly softer volumes,” said Port of Los Angeles Executive Director Gene Seroka. “As the U.S. economy begins to recover, we expect fewer canceled sailings and an uptick in cargo compared to previous months. We continue to invest through this global economic downturn in the infrastructure and technology that will assist us in driving our competitive advantage now and in the future.”
May loaded imports decreased 28.4% to 306,323 TEUs compared to the previous year. Loaded exports dropped 37.6% to 104,382 TEUs. Empty containers declined 26.8% to 170,960 TEUs. In total, May volumes totaled 581,665 TEUs.