EnU.S. ports handled 7.5% more incoming containers than they did a year earlier in March, Panjiva data shows. Among the major ports the Californians did best, with Los Angeles climbing 28.3% on a year earlier and Long Beach by 10.9%. That likely reflects the predominance of Asia as a source of shipments, with Chinese exports climbing 21% in the month as outlined in Panjiva research of April 6. The expansion at Long Beach was its first since June 2016, and should mark a return to business-as-usual after the acquisition of Hanjin Shipping’s stake by MSC and Hyundai Merchant Marine.
Ports on the east and gulf coasts did less well. The ports of Newark and New York experienced an 8.2% downturn as a consequence of lower shipments from Europe – including a 16.3% drop from Italy that had previously driven its growth – and a 16.4% drop in handling from China, representing a significant loss of market share.
Source: Panjiva
Among the second tier port Charleston’s handling expanded 15.1% on a year earlier, and reached its second best result ever. That allowed it to pull ahead of Norfolk for seventh place after the Virginian port increased its handling by “only” 2.7%. It may hope the planned tie-up with Savannah will allow it to regain share vs. its regional competitor. New Orleans’ handling fell for a fourth straight month, leaving it in 15th place and hoping that new services being offered by CMA-CGM will help it rebuild volumes.
Source: Panjiva
Panjiva’s analysis of over 500 port-to-port pairs shows the importance of the resurgence of growth in China, with ports there making up eight of the top 10 pairs. The recent weakness in exports from Canada (putting aside the oil price) may become a problem for Tacoma and Long Beach (pairs 5 and 10), especially if a resolution is reached on the softwood lumber agreement.
Source: Panjiva
