Port of LA/LGB - May Conditions Update
Increased import volume continues through October, rates remain high, port waiting time decreasing
After a decade of a buyer’s market, the shipping industry has shifted. Within the past year carriers have begun to understand their carrying capacity and will hold on to the power of the market for as long as possible. It is important to focus on integrated business planning; ask yourself and your customer: What is happening? How is it happening? When is it happening? By understanding your own priorities, you will regain some power back from the carriers and be able to alleviate some financial tension within your supply chain.
Nationwide Port Updates:
Port of Houston: Highest import volume in history recorded in March (~298,000 TEUs)
Port of Charleston: New terminal opened April 9th, capacity for an additional 700,000 TEUs
Port of NY/NJ: ~395,000 Import TEUs – 45% increase
Port of Savannah: 249,395 Import TEU’s – 58% increase
In good news – waiting time has decreased in Southern California; terminal wait times are around 90 minutes. We are still seeing an average of 7 days at anchorage with ~10 vessels at anchor at any given time. In the image below you will see the live look of container vessels in and waiting for the port of LA. We are not seeing any at outer anchorage and down to Huntington Beach like we did several weeks ago. This is a good sign of adapting to the new normal.
LA/LGB Port Volume Updates:
Week 18: May 2 - 8
147,216 TEUs imported
51,600 TEUS to be moved locally
Week 19: May 9 -15
190,072 TEUS imported
68,948 TEUS to be moved locally
Week 20: May 16- 21
139,147 TEUS imported
50,448 TEUS to be moved locally
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