By Lisa Baertlein LOS ANGELES (Reuters) - Cargo volume at the Port of Los Angeles jumped from July to August after business lost during the ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSLOS ANGELES - Cargo volume at the Port of Los Angeles jumped from July to August after business lost during the now-finished West Coast labor talks began returning, the top executive at the nation's busiest ocean trade gateway said on Thursday.
In August, the Port of Los Angeles handled 828,016 20-foot equivalent units, a measurement standard for ocean cargo. That was up almost 3% from the year earlier and 21% above July, when volume swooned due to worried shippers rerouting goods. In the final stretch of those talks,"folks made some very fast decisions to move cargo away from the West Coast" to avoid having containers stranded by a work stoppage, Port of Los Angeles Executive Director Gene Seroka said. That sent volume down sharply in July but business quickly resumed after the handshake agreement - boosting August results and helping West Coast ports regain some market share, he said.
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