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Plus: The US Chamber of Commerce challenges the FTC ruling on banning non-competes, Covenant Logistics' profits plummet, and Tesla postpones Semi production until late 2025.
February saw significant cargo volume increases at San Pedro Bay Complex and Port Houston.
Let's break down the news about San Pedro Bay Port Complex and Port Houston:
After some labor agreement magic last August, it's been one big win after another—Los Angeles and Long Beach are surpassing all records, and even with a soft January, Houston bounced back in February.
Los Angeles gained 64% in loaded imports, while Long Beach saw a 29.4% rise. But it's not all smooth sailing; Long Beach faced a 21.1% dip in loaded export TEUs. As for Houston- general cargo is up, but we see a 96% drop in steel exports.
The ports are ready for a strong year, with labor concerns in the rearview and strategies to tackle global disruptions Gene Seroka of LA and Mario Cordero of Long Beach are optimistic.
What's Next?
As the ports ramp up efficiency and capacity, everything points to an exciting Q2: they're more than ready to meet and exceed the freight industry's needs.
Sources: FreightWaves | Port of Los Angeles | Port of Houston
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