LA Port’s October imports drop 28% year-over-year as labor negotiations drag on
11/17/2022 // Belle Carter // Views

The Port of Los Angeles has reported that its total throughput in October was 678,429 20-foot equivalent units (TEUs), almost 25 percent less compared to the same month last year. Meanwhile, imports totaled 336,307 TEUs – down 28 percent year-over-year.

The biggest drag was from incoming cargo that has shifted to the East and Gulf coasts due to protracted labor negotiations between West Coast port workers and their employers, Port of L.A. Executive Director Gene Seroka said during a news conference on Tuesday, Nov. 15.

This marks the lowest October import tally since the global financial crisis in 2009 and the lowest monthly imports since May 2020, during the peak of the Wuhan coronavirus (COVID-19) lockdowns. This year's October imports were down 14 percent from October 2019.

According to Seroka, the steep decline is mainly due to three factors: a lack of a West Coast port labor contract, an early peak season and lower consumer spending on durables compared to purchases during the pandemic.

The port executive, as well as Los Angeles Mayor Eric Garcetti, repeatedly highlighted the labor issue during the news conference.

Seroka said he has been "knocking on doors," speaking to shippers and carriers in the U.S., Asia and Europe and "looking to get that allocation back to Los Angeles." But he admitted that "it starts with getting a labor agreement."

Garcetti, meanwhile, insisted that there will not be a strike. "I don't say this as someone trying to market [Los Angeles], but the remaining issues are so much more minor than in past years when we've been able to resolve this," the mayor said.

Brighteon.TV

Recent reports said the Port of New York/New Jersey has unseated L.A. as America's busiest port. But Seroka isn't worried. (Related: Freight companies expect "muted peak season" due to waning retailer demand.)

"We have been in the No. 1 position for 22 consecutive years and one or two months [in second place] is not going to create a trend. Our dwell times have improved and the shipping backlog is nearly gone. We're eager to ramp volume back up," he said.

October imports at Port of Long Beach also decline

The Port of Long Beach also reported a 24 percent year-on-year drop in October imports to 293,924 TEUs, which makes for the port's lowest import number in any month since April 2020 and its lowest import total for the month of October since 2012. The decline was 13 percent from October 2019.

Port officials blamed the reduced consumer demand, which has caused retailers to cut back on their imports. "After having brought in large quantities of merchandise earlier in the year, retail inventories are high contributing to the slowdown," one official said.

Port of Long Beach executives also acknowledged that there has been a shift of imported goods toward the Gulf and East coast ports, which many industry analysts attribute to the prior backlogs in Southern California as well as the fears of potential labor actions as the contract negotiations for Pacific Coast dockworkers have dragged on since their contract expired on July 1.

But Port of Long Beach Executive Director Mario Cordero believes that the supply chain will be back to normal and cargo will continue to move.

"I am optimistic that store shelves will be stocked and goods will be available for delivery during the holiday season. Over the long term, the San Pedro Bay ports complex will continue to be a competitive, strategic and sustainable gateway for trans-Pacific trade," Cordero stated.

Collapse.news has more on the collapsing transportation and freight industries in the United States.

This video talks about ocean freight rates in the ports of Los Angeles and Long Beach.

This video is from the What is happening channel on Brighteon.com.

More related stories:

Shipping rates drop 75% amid plummeting US retail demand.

Shipping cost from Asia to US West Coast drops 84% year-over-year as consumer demand plunges.

Companies now looking at INVENTORY SURPLUS in certain products as demand dwindles.

Port of Los Angeles director: US supply chain at risk if rail service does not improve.

Sources include:

FreightWaves.com

Reuters.com

Maritime-Executive.com

Brighteon.com



Take Action:
Support Natural News by linking to this article from your website.
Permalink to this article:
Copy
Embed article link:
Copy
Reprinting this article:
Non-commercial use is permitted with credit to NaturalNews.com (including a clickable link).
Please contact us for more information.
Free Email Alerts
Get independent news alerts on natural cures, food lab tests, cannabis medicine, science, robotics, drones, privacy and more.
App Store
Android App
eTrust Pro Certified

This site is part of the Natural News Network © 2022 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

This site uses cookies
Natural News uses cookies to improve your experience on our site. By using this site, you agree to our privacy policy.
Learn More
Close
Get 100% real, uncensored news delivered straight to your inbox
You can unsubscribe at any time. Your email privacy is completely protected.