Port Of LA Officials Brace For Losses From Japan Quake
LOS ANGELES (CBS) — Port officials met on Monday to assess the local trade impact from the catastrophic earthquake and ensuing tsunami in Japan, but warned it may take some time before they can assess how much business has been lost or affected.
KNX 1070's Ron Kilgore reports the disaster-ravaged Asian nation is the second-biggest trading partner for the Port of Los Angeles.
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Since the circuit from Japan around the Pacific Rim to the western U.S. seaboard takes just under three weeks, some ships that left before the quake struck are still en route, says the Port of L.A.'s Phillip Sanfield.
Sanfield adds that while there are back-up ports on both ends of the trade route, for now officials are taking a wait-and-see approach.
Analysts say the west coast ports of the U.S. and Canada are key hubs for Japanese trade, and port operators and customers will be monitoring the situation as plant closures across Japan have stoked renewed fears over supply-chain disruptions resulting from the disaster.
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