Los Angeles Port Set For Steep Drop In Traffic.

According to Port Optimizer, a tracking system for vessel operators, scheduled import volumes for the LA Port for the week ending May 3 show a 38.53% week-over-week plunge. Year-over-year, the data shows a 9.79% decrease. For the week ending May 10, scheduled import volumes continued to slow, with a year-over-year change down around 35%.

"We are at a tipping point on the West Coast," Ken Adamo, chief of analytics at DAT Freight & Analytics, told CNBC, adding, "Looking at how many truck loads are available versus trucks, we've seen a precipitous drop, over 700,000 loads have evaporated nationally in the past week compared to two weeks prior."

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