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Economy

14 Oct 2021

L.A Port to Operate 24/7 to Ease Cargo Bottlenecks

The Index Today

The L.A port, one of the busiest sea port in the nation will be operating all hours of the week to help ease cargo bottlenecks which have contributed to shortages and higher prices.

By working around the clock, the port will double its operational hours to help move cargo faster and ease jams. The International Longshore and Warehouse Union have agreed to the extra shifts according to the White House. L.A port Executive Director Gene Seroka reported that timings and hours are still being finalized.

President Biden stated, “Today’s announcement has the potential to be a game changer. I say potential because all of these goods won’t move by themselves. For the positive impact to be felt across the country, and by all of you at home, we need major retailers who order the goods and the freight movers who take the goods from ships to factories and to stores to step up as well.”

The rise of consumer import demands for home products such as electronics has pushed businesses to stock up inventory, leading to supply chain bottlenecks. According to reports, hundreds of product containers are stuck at ports with ships still anchored off the coast. This had led to increased inflation which is pushing Feds to reevaluate upcoming taper plans and monetary policies.

Leading organizations including Walmart Inc, FedEx and UPS have increased their operations at local ports. On the other hand, other some firms have started paying for their own chartered ships to avoid the disruptions.


©Photo: Wall Street Journal

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