The ports of Los Angeles and Long Beach experienced double-digit declines in TEUs (twenty-foot equivalent units) processed in February. Both California ports cited well-stocked retailers, reduced consumer spending, and the typical closure of east Asian factories during the Lunar New Year holiday, as reasons for the soft cargo volumes.
The Port of Los Angeles starts 2023 with a 16% drop in TEUs (twenty-foot equivalent units), and expects a “soft” first quarter due to “extended Lunar New Year closures, well-stocked retailers and economic concerns.” Also, FourKites and RCS Logistics team to provide RCS customers with a “one-stop shop” for end-to-end visibility into their shipments across ocean, air, drayage, intermodal and over-the-road (OTR).
The ports of Los Angeles and Long Beach in California report 2022 as their second-busiest year on record. Also, South Carolina Ports (SC Ports) announces a record 2022 with the most containers ever handled at the Port of Charleston. All provide their outlook for 2023.
Cargo volumes in November were soft at the ports of Los Angeles and Long Beach in California. Both also reported moving less cargo overall in the first 11 months of 2022 vs. the prior-year period.
A COVID-induced supply chain spiral led to a logistical conundrum that forced shippers and executive teams to adapt to an ever-changing global environment. As the dust begins to settle, we, at Cowen Research, are taking a closer look at the more long-lasting changes across the supply chain and consumers. A multi-sector angle provides insight into the long-term impact for supply chains and beneficiaries of these shifts.
The California High-Speed Rail Authority (CHSRA) and officials from the Port of Los Angeles were honored at the annual WTS-LA Scholarship and Awards dinner. Also, the Transportation Security Administration (TSA) has appointed 25 voting members to serve on the Surface Transportation Security Advisory Committee (STSAC).
October cargo volume at the Port of Los Angeles was down 25% from the same month last year; September and August saw similar drops.
The Port of Savannah handles 1.5 million twenty-foot equivalent units (TEUs) in the first quarter of Fiscal Year 2023. Also, SeaPort Manatee reports a 34.6% cargo increase for Fiscal Year 2022; ITS Logistics’ US Port/Rail Ramp Freight Index reports challenges in the Gulf Coast Region; Port of Los Angeles cargo pace cools in September; and NFI makes investment in Canadian intermodal business.
The California State Transportation Agency (CalSTA) on Oct. 12 issued final guidelines and a call for projects for $1.2 billion in one-time state funding for port and infrastructure projects to “build a more efficient, sustainable and resilient goods movement system.”
Rocky Mountain Industrials, Inc. (RMI) engages JHL Constructors, Inc. (JHL) to begin construction of Rocky Mountain Rail Park’s northern parcel. Also, container dwell fee at the Ports of Los Angeles and Long Beach is put on hold through Oct. 21; and the Port Authority of New York and New Jersey (PANYNJ) reports facility volumes for August 2022.
