Northwest Seaport Alliance Reports 8.5% Increase in March Container Volume
The Northwest Seaport Alliance (NWSA) saw a significant rise in container throughput in March 2024, totaling 261,495 TEUs, marking an 8.5% increase from the previous year. The total volume from the start of the year reached 699,382 TEUs, with imports and exports growing by 5.6% and 14.8%, respectively. NWSA is also launching a multimillion-dollar incentive program to enhance intermodal freight volume and improve service delivery starting May 1st.
Sea-Intelligence: Decline in Blank Sailings Despite Exchange Rate Challenges
A recent report from Sea Intelligence indicates a notable decrease in blank sailings on major trade lanes, including Asia-North Europe and Asia-North America, despite ongoing fluctuations in spot exchange rates. The shipping industry appears to be adapting strategies to maintain capacity and leverage relatively high spot rates, aiming to avoid further rate drops over the long term.
Shanghai Port Leads Global Container Throughput by a Record Margin
Shanghai Port has significantly outpaced its closest competitors, handling an unprecedented 10 million more TEUs than the nearest rival port. Now approaching a milestone of 50 million TEUs handled in a single year, Shanghai continues to dominate global container throughput, with significant contributions from other Chinese ports bolstering national figures.
Panama Canal Expands Transit Capacity Ahead of Rainy Season
The Panama Canal Authority is set to increase booking slots and vessel draft limits in anticipation of increased rainfall, which is expected to replenish water levels in Gatun Lake. This expansion follows a period of drought-induced restrictions, highlighting a proactive approach to managing seasonal water variability and ensuring steady canal operations.
Port of Los Angeles Reports Surge in Container Volumes
The Port of Los Angeles experienced a robust 19% increase in container volumes in March, continuing an eight-month streak of year-over-year growth. The port’s first-quarter performance significantly outpaced previous years, with notable increases across all categories of container throughput.
European Ports Struggle with Congestion Amid Auto Import Surge
European ports are facing severe congestion due to an influx of vehicle imports, particularly electric vehicles from China, which are not selling as expected. The congestion is compounded by labor shortages and changes in OEM sales models, necessitating increased terminal capacity and efficient logistics planning.
