USC Marshall Global Supply Chain Excellence Summit Puts Ports in the Spotlight

When the 2019 USC Marshall Global Supply Chain Excellence Summit convenes this August, prominent executives from both San Pedro Bay ports will be the featured keynoters.

As he did last year, Gene Seroka the Executive Director of the Port of Los Angeles, will describe how he’s managing a $1 billion budget, while advancing major capital projects, growing trade volumes, and promoting innovative, sustainable practices that strengthen the region’s economy.

Summit will also feature Dr. Noel Hacegaba, Deputy Executive Director of Administration and Operations for the Port of Long Beach, where he manages the day-to-day operating functions of the port, including finance, human resources, real estate, business development, operations, communications, and security.

As we have recently noted in Logistics Management, the solvency of “Top 30 U.S. Ports” is hardly in question, with the Ports of Los Angeles and Long Beach remaining well in the lead.

Still, Fitch Ratings’senior director, Emma Griffith, notes that shifts in centers of production, and the advent of disruptive technologies add further complexity to cargo throughput levels.

“Major ocean cargo gateways remain resilient,” says Griffith, “and this trend has been evident over the past decade with container traffic outpacing economic growth rates despite volatility through the last recession.”

However, Griffith adds that increasing vessel sizes coupled with supporting infrastructure may be reaching a maturation level. “Growth rates are slowing relative to historical averages as these trends mature. And volume growth, while expected to continue, will likely more closely mirror that of global GDP.”

Regarding U.S.-China trade relations, primary ports of call will be able to “weather the storm” despite elevated concentration in Chinese trade exposure in some cases, says Griffith. “Conversely, smaller and more specialized ports will have less leeway to offset major losses in imports and exports if commodities handled are targeted by tariffs.”

Finally, recent changes in trade policy between Asia and the United States are clouding future performance of the Panama Canal’s container business, Fitch Ratings concludes.

“Some ports may be investing too much and too quickly in mega cranes and warehousing in misguided anticipation of attracting more cargo,” says Griffith. “But then again, they might be right. For the time being, most major ports in the United States and elsewhere are taking an ambitious approach toward growth.”

The USC summit promises to address this concern, and will likely generate more discussion on the near-term future of Pacific Rim mega-ports.

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