Overview
U.S. ports experienced varied performance in May, with some facilities reporting increased container volumes while others saw declines. Here’s a detailed look at the latest data and trends from key ports across the country.
Port of Los Angeles
The Port of Los Angeles processed 752,893 twenty-foot equivalent units (TEUs) in May, marking a 3% decrease from the 779,140 TEUs handled in May 2023. Despite this decline, container volumes for the first five months of 2024 remain up 18% year-over-year. “We continue our trend of strong, consistent volume that started at the beginning of the year,” said Port Executive Director Gene Seroka. He expects robust activity on the docks throughout the summer.
Port of Long Beach
The Port of Long Beach reported an 8.2% year-over-year decrease in container volumes for May, handling 695,937 containers compared to 758,225 the previous year. This ended an eight-month streak of growth. Despite the May decline, volumes for the first five months of 2024 are up 10% from last year’s 3,449,181 TEUs. CEO Mario Cordero remains optimistic about seeing additional cargo as they work to regain market share.
Port of Oakland
Container volumes at the Port of Oakland rose 5.3% year-over-year to 188,040 TEUs in May, continuing a seven-month trend of increasing import volumes. Recent travels to Taiwan by port leadership aim to discuss infrastructure investments, reducing emissions, and new rail connections.
Northwest Seaport Alliance (Seattle and Tacoma)
The Northwest Seaport Alliance, which includes the ports of Seattle and Tacoma, saw a significant 20.6% increase in combined container volumes to 277,388 TEUs in May, up from 229,974 TEUs the previous year. Consistent voyage schedules, increased vessel calls, and low import rail dwell times are driving this growth. For the first five months of 2024, volumes are up 8.2% at 1,235,446 TEUs.
Port Houston
Port Houston experienced a 21% year-over-year volume increase in May, handling 364,866 containers compared to 307,879 in May 2023. The increase is attributed to strong construction, manufacturing, and regional consumer spending. The port welcomed the MV/OOCL Bremerhaven on its maiden voyage in May, highlighting its commitment to efficient service.
Georgia Ports Authority
The Georgia Ports Authority reported a 22% year-over-year increase in container volumes, with 490,330 TEUs in May, up from 408,686 the previous year. This growth is driven by a strengthening retail market and new customer business. Additionally, the facility benefits from manufacturers shifting production to Southeast Asia.
Other Ports
- Port of Baltimore and Port of Virginia: Data was unavailable due to disruptions following the Francis Scott Key Bridge collapse in Baltimore on March 26. Maryland Governor Wes Moore announced the full reopening of the port on June 12.
- South Carolina Ports Authority: May data was not available.
- Port Authority of New York and New Jersey: Reported a 9.4% year-over-year increase in April volumes to 709,469 TEUs from 648,462 TEUs.
Conclusion
The mixed results across U.S. ports in May reflect shifting trade routes, economic factors, and strategic initiatives. As ports continue to adapt and invest in infrastructure, they aim to enhance efficiency and manage growing volumes in an increasingly competitive environment.
Stay tuned to our blog for more updates on port activities and trends in the logistics industry.
Source: https://www.ttnews.com/articles/ports-report-volume-may