Bigger than expected 29.8pc import jump at LA in February

HIGHER than expected increases in container volume at the Los Angeles-Long Beach port complex with analysts have suggesting that the numbers point to a recovery, while others say it is just an inventory swing, reports the Los Angeles Times.

LA's February imports grew 29.8 per cent while exports went up 32.6 per cent year on year. Long Beach reported a 39.5 per cent export increase and 32.8 per cent rise in imports, though officials noted that this was mostly a correction of last year's decline - the worst since 2003.

Hackett Associates, which tracks trade at leading US seaports for the National Retail Federation, viewed the increases as a sign of improving consumer confidence, noting that volumes for the year would likely rise by 10 to 14 per cent.

But economist John Husing disagreed. Retailers, he said, had cut inventories to near historic lows last year, and restocking was driving that higher import numbers.

Meanwhile the Port of Los Angeles recently welcomed a new service from recently established, no-frills carrier, The Containership Company. The operator will be using the port for its Taicang, China service, which officials estimate could help generate 250,000 containers a year for LA.

(Source: www.schednet.com)