Thursday, November 26, 2020

Tag: ‘Losing A Billion Dollars A Month’ – No Rebound In Sight Amid Global Shipping Slump

‘Losing A Billion Dollars A Month’ – No Rebound In Sight Amid Global Shipping Slump

from ZeroHedge:

America’s seaports are now starting to feel the chilling effects of supply chain disruptions from China,¬†warned¬†Noel Hacegaba, the Deputy Executive Director of Administration and Operations for the Port of Long Beach, California.

Hacegaba said the Port of Long Beach, the second-largest containerized port in the US – is experiencing weakness in volume, down 6% YoY in January, and down another 6% YoY in February. For the quarter, he said the port could see a decline of 12% YoY.