SIMIC

THE Port of Los Angeles posted a 16 per cent year-on-year January decline to 726,014 TEU while the adjacent Port of Long Beach suffered a 28.4 per cent decline to 573,772 TEU.
LA imports fell 13 per cent to 372,040 TEU while exports rose 2.5 per cent to 102,723 TEU. Empties came in at 251,251 TEU, a 26 per cent decrease.
"We expect softer global trade throughout the first quarter, particularly compared to last year's record-breaking start," said Port of Los Angeles executive director Gene Seroka.
"Many factories in Asia have had extended Lunar New Year closures, retailers continue to discount products to clear warehouses and inflation-led economic concerns remain top of mind for Americans," he said.
Long Beach imports were off 32.3 per cent, to 263,394 TEU, and exports were down 14.2 per cent, to 105,623 TEU. Empties were 29 per cent down at 204,755 TEU.
Said Port of Long Beach executive director Mario Cordero: "I remain optimistic that we will recapture market share and develop projects that will enhance our long-term growth, sustainable operations and the reliable movement of goods through the Port of Long Beach."