US port director on how China's COVID lockdowns impact cargo shipments
Port of Los Angeles executive director argues 'there are impacts across the board'
Port of Los Angeles director on how China's COVID lockdowns have impacted cargo shipments
Port of Los Angeles Executive Director Gene Seroka explains that the lockdowns have led to 'impacts across the board.'
Port of Los Angeles Executive Director Gene Seroka revealed on Tuesday how China’s COVID lockdowns have impacted cargo shipments at one of the world's busiest seaports.
"During the past two months with the COVID-19 lockdowns in Shanghai, we have not seen the precipitous drop in cargo that some have called for, rather we’ve been averaging about 40 vessels per week departing, and the throughput at the Port of Los Angeles rivals our all-time highs," Seroka told "Mornings with Maria" on Tuesday.
Shanghai, a city of 25 million, has been under strict lockdown for weeks due to China’s "zero-COVID" policy. Shanghai’s port is also one of the busiest in the world and there has been an increase in wait times in recent months, which has led to shipping delays.
In March, the number of bulk cargo ships waiting at anchor to enter Chinese ports increased to 600 to 700 from 500, which is up 20% to 40% compared to the two prior months, the Associated Press reported this month, citing an S&P Global Market Intelligence report.
Port of Los Angeles Executive Director Gene Seroka explains whether China’s COVID lockdowns have impacted cargo shipments at his port. (REUTERS/Mike Blake / Reuters Photos)
Seroka noted that the Port of Los Angeles has not experienced a significant decline in cargo vessels since China’s lockdown started two months ago. In fact, he noted that "we are coming off our best first quarter ever."
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He also noted that the month of April has been the "second best in our history."
Seroka said that April figures "show a 17% increase compared to the last five-year average and imports are up 18% over that time."
He did, however, acknowledge that the COVID lockdowns in China have caused "impacts across the board," but noted that the government in China has been "prioritizing their long haul cargo lanes including, our own Trans-Pacific trade."
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Port of Los Angeles Executive Director Gene Seroka says 'we have not seen the percipitous drop in cargo that some have called for' over the last two months of COVID lockdowns in China.
Seroka pointed out that "there are impacts at subassembly manufacturing" and transport divisions in certain regions in China, which are "seeing less than normal productivity."
He then noted that for the manufacturing sector west of Shanghai the situation seems to be getting better.
Chinese authorities are keeping Shanghai under lockdown despite stating on Tuesday that the city has achieved its "zero COVID" goal of going three days without finding a new virus case outside quarantined areas.
Nevertheless, residents will remain under lockdown until the end of May, Reuters reported.
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"So far, managing through this very difficult situation for eight weeks, we continue to see that flow of cargo," Seroka told host Maria Bartiromo.
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Fox News’ Anders Hagstrom and The Associated Press contributed to this report.