Port roundup: Strong annual growth across the board

The Lunar New Year has come and gone, but its impact at U.S. ports has been felt for weeks after the holiday.. Even with the impacts of the Lunar New Year arising at ports across the country in the form of sequential declines in imports, port figures across the board are holding up compared to the previous year.

Across the ports, Lunar New Year’s arrival about two weeks later than in 2023 is causing the sequential dip in volumes.

The Port of Los Angeles led the West Coast ports higher on an...


Descartes: Container import volume trajectory is strong

The container market continued to show strength in March as the pull forward ahead of the Lunar New Year continues to pay dividends at the ports.

According to the monthly report by Descartes, U.S. container import volumes in March climbed by 0.4% from February and over 15% from March 2023. The year-over-year gains can be explained by the timing of the Lunar New Year: This year’s holiday occurred nearly three weeks later than in 2023.

Descartes reported that U.S. container import volumes in...


Port Houston shows import strength in February

The Gulf Coast ports have received a lot of attention in recent years and rightfully so. The ports along the Gulf Coast provided a pressure relief valve of sorts, though they suffered with congestion throughout the pandemic as well.

What separates the Gulf Coast ports from the major East and West Coast ports is the importance that bulk cargo and the industrial sector as a whole play in port volume. At Port Houston, over a third of all tonnage cleared in 2022 was noncontainerized.

Source: Port...


Carriers’ pricing power slipping amid continued Red Sea conflict

The first fatal Houthi attack on a commercial vessel happened earlier this week, claiming three lives. The attacks in the Red Sea have created diversion around the Cape of Good Hope across all of the major container shipping companies, as they opt for the safety of crews and cargo at the expense of shorter transit times.

The result of the diversion has been a surge in global container spot rates of over 200% in a matter of weeks. Rates have reached levels well in excess of what was experienced...


Restocking boosts January US port activity

The past few years have brought plenty of questions as to whether the COVID-19 pandemic changed supply chains permanently or, once constraints eased, if supply chains would return to pre-pandemic patterns. Those answers are starting to reveal themselves as the ports release January figures.

The biggest East Coast port, the Port of New York and New Jersey, retained its place as the second-busiest port in the country in terms of loaded imports, only surpassed by the Port of Los Angeles.



Are ocean spot rates past their peak?

2023 was a challenging year for ocean carriers, especially those that have spot exposure. They have seen significant slashes to revenue and profitability. 

Zim Integrated Shipping (NYSE: ZIM), a carrier with more spot exposure than some of the other large ocean carriers, saw a 61% year-over-year reduction in third-quarter revenue, and earnings before interest and taxes fell by $1.77 billion to a loss of $213 million. The Freightos Baltic Daily Index from China to the North American west coast...


Port of Los Angeles shines in January

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The Port of Los Angeles’ January import numbers highlight that the inventory glut of 2022 and early...


Water level projections threaten future Panama Canal transits

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Dry season in Panama is in full swing, and the impacts to trade through the Panama Canal will...


FreightWaves Classics: IMC Companies – drayage-focused for 40 years

IMC Companies' trucks at the ready. (Photo: IMC Companies)

FreightWaves Classics is sponsored by Sutton Transport, an LTL leader in the Midwest for more than 40 years. Sutton Transport proudly services Illinois, Minnesota, Missouri and Wisconsin. Request a quote here.

IMC Companies began as a regional drayage firm in Memphis 40 years ago. Since then, its leaders have developed a national network of drayage companies. IMC Companies leverages its companies’ local expertise, and has built a technology infrastructure that moves containers faster. IMC...


SONAR Sightings for Sept. 8: Capacity seems to be able to handle increased volume from Port of Savannah, Georgia

The highlights from Thursday’s SONAR reports are below. For more information on SONAR — the fastest freight-forecasting platform in the industry — or to request a demo, click here. Also, be sure to check out the latest SONAR update, TRAC — the freshest spot rate data in the industry.

Market watchSavannah, Georgia

Outbound tender rejections in Savannah are bouncing back to start September but are still low in comparison to where they were through the summer.

Since Sept. 1, the Outbound Tender...


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