Posted on 09/17/2022 8:49:34 AM PDT by george76
LA lost cargo to East, Gulf Coast ports — and Long Beach next door
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The Port of Los Angeles, the highest-volume container gateway in America, is diverging from the nationwide trend. U.S. container imports remain close to record highs, yet imports to LA are falling double digits.
On Thursday, the Port of Los Angeles reported total throughput of 805,672 twenty-foot equivalent units in August, down 15.5% year on year (y/y). Imports came in at 404,313 TEUs, exports at 100,484 TEUs and empties at 300,875 TEUs.
Imports were down big, sinking 16.8% y/y and 16.7% compared to July.
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It was the lowest import total in Los Angeles for any month since December, when volumes were suppressed by extreme landside congestion.
It was also the lowest import total in LA for the month of August since 2014, eight years ago
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Los Angeles’ performance stands in stark contrast to the blowout numbers just announced by the Port of Savannah in Georgia. Savannah handled 290,915 TEUs of loaded imports in August, by far the highest tally in the port’s history.
Savannah’s August imports were up 15.6% from July, 14.7% from the previous record month in May, 20% y/y — and 34% versus August 2019
Right! I remember that dope saying that - apparently a faux economy based on unemployment checks is a good thing...
I did the same double-take at the butter case. I saw $2.79 and thought “wow, pretty good price”. Then when I picked it up saw it was for two sticks not four.
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