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In 2009 it trailed only Louisiana in terms of the value of cargo that left its ports for Cuba.
Figures in a chart in Business Day yesterday showing the value of cargo through the Port of South Louisiana were mispositioned.
The total value of cargo passing through the port was more than $38.29 billion during that period, said Neil D. Levin, executive director of the Port Authority.
A glut of ships, and slack demand for shipping in the weak global economy, have reduced the value of cargo ships.
Nonetheless, this statistic significantly underestimates the importance of air freight because, in value of cargo moved, air transport dominates all other modes.
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Table 5 Four categories of express cargoes (based on CIF value
The total value of the cargo was estimated at $22 billion.
"Meanwhile, the value of air cargo climbed an astonishing 1,395 percent.
From 1975 to 2005, while global gross domestic product rose 154 percent and world trade grew 355 percent, the value of air cargo climbed 1,395 percent.
But the Port of Boston, which since 1996 increased the value of the cargo it handles by 30percentt, hopes to acquire more waterfront space for support operations like warehouses.
"In the armada of 1708, the value of the cargo on the flagship alone exceeded Spain's annual national income from all sources.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com