More than 776,000 fewer twenty-foot equivalent cargo containers moved across the docks at the Port of Los Angeles in the first half of 2020 compared to last year due to combined impacts of the coronavirus pandemic and the on-going Trade War with China. The port's executive director Gene Seroka announced the June and first half 2020 numbers in a wide-ranging mid-year … [Read more...]
Port of Long Beach Cargo Volumes Fall 11% in June
The coronavirus pandemic continues to hammer U.S. west coast ports. The Port of Long Beach on Friday reported that 602,180 TEU was moved across its docks in June, making for an 11.1% decline compared to June 2019. Imports shrank 9.3% to 300,714 TEUs, exports dropped 12.2% to 117,538 TEUs, and empty containers shipped overseas to Asia were down 13.1% to 183,928 TEUs. The … [Read more...]
U.S. Port Workers Stop Work in Protest of George Floyd Killing
Dockworkers across the country stopped work today in a show of support for George Floyd and the Black Lives Matter movement. Workers with the International Longshore and Warehouse Union (ILWU) stopped work and lay down their tools Tuesday morning for an 8 minute and 46 second moment of silence in honor of George Floyd and all victims of police brutality. The International … [Read more...]
U.S. Economy is Still Far From Smooth Sailing, Port Chief Says
By Brendan Murray (Bloomberg) -- The U.S. economy is unlikely to snap back quickly and may not return to normal until 2021, according to the chief of one of the nation’s biggest ports, after a government report raised hopes for a faster-than-expected rebound from a pandemic-induced recession. Even after the Labor Department’s surprisingly positive numbers Friday on … [Read more...]
U.S. Total Trade Slumps to Lowest Level in Almost a Decade
By Ana Monteiro (Bloomberg) --U.S. trade in goods and services plunged in April to the lowest level in almost a decade as the Covid-19 pandemic stifled demand and hindered logistics. Exports declined from the prior month by 20.5%, the biggest drop in comparable data back to 1992, to $151.3 billion. Imports decreased 13.7%, also the most since 1992, to $200.7 billion. … [Read more...]