Los Angeles Business Journal
Los Angeles Business Journal
Search last 90 days
ARCHIVES SEARCH
SIGN IN
WRITE US
Los Angeles Business News
Los Angeles Business Journal
 

INDUSTRY-SPECIFIC NEWS STORIES:
LABJ Poll
What do you think about increases in parking fines and traffic tickets, plus more red light cameras?
Los Angeles Business news
  That's OK. Just obey the law.
  No. Higher fines and increased enforcement are becoming too costly for too many people.
Los Angeles Business news
View Results
 
 

L.A. Port Activity Picks Up

Los Angeles Business Journal Staff

The Port of Los Angeles saw a 27 percent boost in cargo shipments in March compared to the previous month – the first positive news in months amid a bleak outlook for trade in 2009, according to statistics released Tuesday.

The port moved 526,487 twenty-foot cargo container units, or TEUs, last month, up from February’s shipment of 413,910 TEUs. However, last month’s figure was still down 32 percent compared to February 2008.

Both Los Angeles and its rival, the neighboring Port of Long Beach attributed some of February’s dramatically low numbers to the timing of the Chinese New Year, which shut down overseas business for several days. But they also conceded the drop had more to do with less demand for goods.

Port officials had warned shipments would likely drop by double digits in 2009 after the Los Angeles port reported a 6 percent drop in 2008 container volume – the largest annual decline after 20 years of steady growth. Now, with March’s numbers there is hope that it won’t be as bad as expected.

“Our numbers are better so yes, that is an encouraging sign,” said Lori Kelman, a spokeswoman for the port.

The Port of Long Beach has not released their numbers for March, but their cargo container shipments dropped in February by 40 percent to its lowest level in five years.


  February 8 - 14, 2010
LA Business News
Convention-al Appeal
New downtown hotels and a bustling L.A. Live scene are hailed as big convention business boosters.
Owner Back in the Saddle at Santa Anita Race Track
A deal with creditors will allow owner Frank Stronach to hold on to the reins of Santa Anita Park.
Unions Dropping Anchor in Long Beach?
The Port of Long Beach’s use of project labor agreements may maroon nonunion contractors.
Local Latinos Make Chinese Connection
A contingent of Latino officials from L.A. cities overcame culture clash on a recent trip to China.
Browse the complete Table of Contents - stories, charts, and editorial - for the current edition of the Journal

Printer-friendly version E-mail to an associate Search Home
   

All contents of this site © 2010 Los Angeles Business Journal Associates. All rights reserved.
Los Angeles Business Journal, Los Angeles, CA 90036, USA. | Powered by FLEX360