Port strike: West Coast port CEO confident facility can handle increased capacity

Published On Oct 1, 2024, 6:00 AM

The Port of Long Beach CEO, Mario Cordero, expressed confidence that the port can handle an increase in cargo due to potential strikes at East Coast and Gulf Coast ports. He mentioned that when negotiations lead to uncertainty, shippers tend to divert their cargo to the West Coast. The port is currently operating at approximately 70% capacity and had a record cargo volume in August, demonstrating efficient operations without congestion. Cordero highlighted that lessons learned from the COVID-19 supply chain issues have improved the port's preparedness for handling increased cargo volumes.

Stock Forecasts

The Port of Long Beach's ability to manage an increase in cargo due to strikes elsewhere suggests increased demand for shipping services, which could benefit shipping companies and logistics firms associated with the port.

Increased shipping activity at the Port of Long Beach may lead to a boost in demand for freight and logistics services offered by related companies, indicating a potential positive effect on their stock performance.

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