Tranco Global reposted this
Business Development Manager at Tranco | International Freight Forwarder | Ocean, Air, Drayage, FTL, Intermodal, Expedited, Customs Clearance, Warehousing/Storage
Performance Breakdown of Top 5 Ports 1. Los Angeles, CA 2023 TEU: 4,417,136.81 TEU Change: -9.3% Value Change: +7.5% Despite a drop in volume, the value of goods rose, primarily due to higher-value imports like electronics. 2. New York-New Jersey 2023 TEU: 3,980,017.97 TEU Change: -17.5% Value Change: -1.5% This port remained the second busiest but saw a significant drop in volume and a slight decrease in the value of imports. 3. Long Beach, CA 2023 TEU: 3,756,558.12 TEU Change: -10.4% Value Change: -18% Long Beach saw a late surge in 2023, but it wasn’t enough to offset the decline in volume and value. 4. Savannah, GA 2023 TEU: 2,410,092.15 TEU Change: -15.7% Value Change: -0.5% Savannah’s volumes declined, affected by lower water levels in the Panama Canal, but the value of goods remained nearly steady. 5. Houston, TX 2023 TEU: 1,800,306.67 TEU Change: -5.6% Value Change: +0.6% Houston’s volumes dipped slightly, but the value of imports edged up, buoyed by specific high-value goods like solar panels.
Import demand suggests strong peak season Container volumes arriving from overseas at U.S. ports are averaging double-digit percentage growth since mid-July. Import bookings, which measure container volumes based on departure dates from the ports of origin, are signaling that growth will probably sustain through August. Many thought the unusually strong growth in container import demand in May and June was an early peak season as shippers were shifting more to a just-in-case strategy or pulling inventory into the country as the maritime sector grappled with the ongoing conflict in the Middle East. This data suggests that was maybe true to an extent but not the total truth. Volumes are now peaking seasonally on schedule but significantly higher than the previous year. The lack of flattening or slowing is an indication that this year’s domestic shipping peak season has the potential to be strong, with no clear indication that consumers won’t show up. If this pattern holds, then domestic transportation markets may be at risk for an overweight influence on capacity in Western markets in the coming months. FreightWaves SONAR
