By City News Service
Mar 17, 2021
LOS ANGELES (CNS) - The Port of Los Angeles announced today that February was its seventh consecutive month of year-over-year increases, with a 47% increase in 20-Foot Equivalent Units processed compared to the previous February.
The port processed 799,315 TEUs during February, making it the strongest February in the 114 years the port has existed.
“One year ago, global trade slowed to a crawl as the COVID-19 pandemic first hit China and then spread worldwide, said Port of Los Angeles Executive Director Gene Seroka. “Today, we are in the seventh month of an unparalleled import surge, driven by unprecedented demands by American consumers.
The United States’ top port for containerized imports from Asia reported its best February on record as the nation’s economy continues to bounce back from the pandemic.
The Port of Los Angeles said it processed 799,315 Twenty-Foot Equivalent Units (TEUs) last month for a 47% jump compared to February 2020 when the world was just starting to feel the economic impact of COVID-19’s unrelenting spread.
Last month marked seven consecutive months of year-over-year increases and the strongest February on record for the Port of Los Angeles.
“One year ago global trade slowed to a crawl as the COVID-19 pandemic first hit China and then spread worldwide,” said Port of Los Angeles Executive Director Gene Seroka. ”Today, we are in the seventh month of an unparalleled import surge, driven by unprecedented demands by American consumers.”
Port of Los Angeles Reports 7th Consecutive Month of Year-Over-Year Growth iheart.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iheart.com Daily Mail and Mail on Sunday newspapers.
By City News Service
Dec 24, 2020
LOS ANGELES (CNS) - Port of Los Angeles officials today said legislation passed with the COVID-19 relief package would significantly increase port and harbor funding.
The Water Resources Development Act of 2020 would unlock billions of dollars in the Harbor Maintenance Tax Fund, which collects revenue via imports, cruise passengers and certain domestic cargo, according to port officials.
HMT revenues were about $1.8 billion during the 2019 fiscal year, and the bill would allow those funds to be used “for their intended purpose ensuring that maintenance needs of U.S. ports and harbors are met, according to Rep. Peter DeFazio, D-Ore., chair of the House Committee on Transportation and Infrastructure.
The Port of LA applauds lawmakers for passage of WRDA 2020 December 24, 2020, posted by Zlatan Hrvacevic
The Port of Los Angeles praised U.S. Congressional and local leaders for approving the Water Resources Development Act of 2020 (WRDA) as part of the year-end omnibus and COVID relief legislative package.
The bipartisan legislation, approved on Monday by the House and Senate, is essential to the country’s ports, harbors, and inland waterways.
“I am particularly proud that this legislation achieves my decades-long mission to unlock the Harbor Maintenance Trust Fund (HMTF) by allowing billions of dollars in already-collected HMTF fees to be used for their intended purpose ensuring that maintenance needs of U.S. ports and harbors are met,” said Rep.