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West Coast Ports See Cargo Growth

By 17吃瓜在线 News Room

Two major U.S. West Coast ports saw continued cargo growth in March, coinciding with supply chain fallout from the Francis Scott Key Bridge collapse in Baltimore ().

What鈥檚 going on: The Port of Los Angeles 鈥減rocessed 743,000 twenty-foot equivalent units (TEUs, the industry鈥檚 standard measurement for cargo units) last month鈥攗p 19% from March 2023. It was the port鈥檚 eighth-consecutive month of year-over-year growth.鈥

  • The Port of Long Beach last month moved 654,082 TEUs, a cargo increase of 8.3% from March 2023. Its imports rose 8.4% compared to last year.
  • The ports anticipate April鈥攖raditionally 鈥渟lack season鈥 for the entry points鈥攂eing 鈥渁nother busy month,鈥 Port of Los Angeles Executive Director Gene Seroka said.

Why it鈥檚 important: The growth is reflective of 鈥渞esilient consumer spending, [which] is key to our nation鈥檚 growth,鈥 Seroka continued. 鈥淯.S. economic indicators remain positive even with some uncertainty regarding interest rates and the latest inflation data.鈥

Shoring up systems: The Port of Los Angeles is working to ensure the safety of its systems following the March 26 Key Bridge collapse and an executive order by President Biden that increases cybersecurity regulations at all U.S. ports.

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