ZERO HEDGE writes:
About a year ago, there was a massive queue outside two of America’s biggest ports, located on the West Coast. Now, the ports are coming to a crawl during the peaking shipping season, ahead of the busiest shopping period of the year.
There’s no longer a massive amount of container ships outside the ports of Los Angeles and Long Beach, California, which handle 40% of all cargo containers entering the country.
According to Gene Seroka, head of the Port of Los Angeles, the backlog has all but dissipated. In an online briefing, he said the Port of LA had the quietest October since 2009…
To read the full post, please click here.
More background about the WC-EC shift was included in our recent column on Germany’s Hapag-Lloyd… click here for more.