Jamie Foster

Gene Seroka reports worst May in more than a decade, predicts 15% of import cargo won’t return.

The Port of Los Angeles has been battered by its slowest May since the recession of 2009.

Year-over-year volume was down 30%, from the 828,662 twenty-foot equivalent units (TEUs) handled in May 2019 to 581,664 TEUs this year.

“Key factors included America’s shutdown economically due to COVID-19’s pandemic. There’s less consumer purchasing, less U.S. manufacturing. We also see the continuing negative impact of the trade war between the United States and China and the policies that have been in place,” said Port of LA Executive Director Gene Seroka.

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The party is over for shale and U.S. energy dominance.

It has nothing to do with the lack of shale profitability or other silly memes cited by people who don’t understand energy.

It’s because of low rig count.

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From Rail News:

“Defenders of public safety are heading into a critical period in the truck size and weight national debate in Congress, and the rail industry should take notice.”

“The House of Representative’s Transportation & Infrastructure Committee (T&I) recently unveiled its surface transportation reauthorization bill, named the INVEST in America Act. While the good news is there is no bigger truck language in this bill, the mark-up for the bill is scheduled for June 17 with the floor vote scheduled for July 1.”

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