Houston’s Harvey Loss is Miami’s Gain as U.S. Ports’ Handling Climbs — Panjiva
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Houston’s Harvey Loss is Miami’s Gain as U.S. Ports’ Handling Climbs

Coronavirus 511 Corp - Ports 893 Mode - Containerized 1489 Mode - Seaborne 1818 U.S. 5347

U.S. ports handled a new record number of inbound containers in August, Panjiva data shows, after a 3.7% increase resulted in a 2.39 million TEU total. The increase was the slowest since September 2016, largely because of disruptions from Hurricane Harvey.

That is most obviously seen in the performance from Houston, which dropped 16.6% on a year earlier to its lowest level of handling January 2016. Evidence of diversions to Miami (which jumped 32.4%) and Jacksonville (30.4% higher) can be see, though these will likely reverse as a result of Hurricane Irma in September.

HANDLING HARVEY

Chart shows change in U.S. inbound containerized freight. Calculations based on containerized freight only, from all ports of lading. Horizontal axis shows change in total for the last 12 months on the same period a year earlier, vertical axis shows change in last month on a year earlier. Bubble size indicates volumes handled. Colors differentiate coast of operation. Source: Panjiva

Among the major port complexes Los Angeles and Long Beach continued to recover, with an 8.9% rise resulting from a surge in Asian traffic. The latter may continue as exporters seek to pre-empt protectionist measures from the Trump administration, repeating a pattern seen in July’s macroeconomic trade data, as outlined in Panjiva research of September 7.

The Puget Sound ports of Seattle and Tacoma continued to slide, with an 8.7% decline at risk of continuing after the Port of Prince Rupert expansion was completed. One surprise was New York / Newark, which experienced a 0.4% decline despite the increased capacity available after the raising of the Bayonne Bridge. It also suggests traffic diversions resulting from the widening of the Panama Canal have benefited the south-east ports more.

CALIFORNIA PARTIES AS NEW YORK SLUMBERS

Calculations based on containerized freight only, from all ports of lading Source: Panjiva

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