Tweet
DailyBreeze.com
By Art Marroquin Staff Writer
Posted: 01/13/2009 10:20:50 PM PST
The Port of Los Angeles experienced a 6 percent drop in cargo shipments in 2008, ending more than two decades of steady growth, according to figures released Tuesday.
Nearly 7.85 million cargo containers passed through the port in 2008, a significant drop from the 8.4 million containers that were handled in 2007. Additionally, year-over-year shipments were down 15.2 percent in December, marking the single worst month in 2008 for the port.
[..]
Final figures were not immediately available from the neighboring Port of Long Beach, but officials estimated a 10 percent year-over-year decline in shipments there.
[..]
The receding volume at the twin ports falls in line with an average 7 percent drop in shipments at ports across the country, according to industry analysts.
[..]
The decline has prompted shipping companies to cut jobs along the West Coast, while the local ports reconfigure their spending budgets to stay afloat. Up to 918,000 Southern California jobs are related to the Port of Los Angeles, while 316,000 jobs are connected to the Port of Long Beach, according to officials.
Port officials are examining contracts with each of the shipping companies to see if any adjustments can be made to help them get through the economic downturn.
Additionally, the Port of Los Angeles has cut $20 million from its spending budget, with further reductions on the horizon.
[..]
Despite the slowdown, growth and expansion projects are expected to continue at the twin ports over the next decade. Construction is expected to start soon on the TraPac and China Shipping terminal expansions at the Port of Los Angeles, while the Port of Long Beach is preparing to break ground on a new headquarters building.
Additionally, both ports are moving ahead with environmental projects aimed at reducing emissions from vehicles, ships and yard equipment as part of their joint Clean Air Action Plan.
Officials said the continued expansion is needed at the ports, which handle more than 40 percent of the nation's imports.
By Art Marroquin Staff Writer
Posted: 01/13/2009 10:20:50 PM PST
The Port of Los Angeles experienced a 6 percent drop in cargo shipments in 2008, ending more than two decades of steady growth, according to figures released Tuesday.
Nearly 7.85 million cargo containers passed through the port in 2008, a significant drop from the 8.4 million containers that were handled in 2007. Additionally, year-over-year shipments were down 15.2 percent in December, marking the single worst month in 2008 for the port.
[..]
Final figures were not immediately available from the neighboring Port of Long Beach, but officials estimated a 10 percent year-over-year decline in shipments there.
[..]
The receding volume at the twin ports falls in line with an average 7 percent drop in shipments at ports across the country, according to industry analysts.
[..]
The decline has prompted shipping companies to cut jobs along the West Coast, while the local ports reconfigure their spending budgets to stay afloat. Up to 918,000 Southern California jobs are related to the Port of Los Angeles, while 316,000 jobs are connected to the Port of Long Beach, according to officials.
Port officials are examining contracts with each of the shipping companies to see if any adjustments can be made to help them get through the economic downturn.
Additionally, the Port of Los Angeles has cut $20 million from its spending budget, with further reductions on the horizon.
[..]
Despite the slowdown, growth and expansion projects are expected to continue at the twin ports over the next decade. Construction is expected to start soon on the TraPac and China Shipping terminal expansions at the Port of Los Angeles, while the Port of Long Beach is preparing to break ground on a new headquarters building.
Additionally, both ports are moving ahead with environmental projects aimed at reducing emissions from vehicles, ships and yard equipment as part of their joint Clean Air Action Plan.
Officials said the continued expansion is needed at the ports, which handle more than 40 percent of the nation's imports.