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Alert! S. East Ports in the coming months
Apr 24,2022
The number of ships moored on the U.S. West Coast is decreasing, from more than 100 at the end of 2021 to 60 or 70 now.
Since mid -2021, some seaborne rates have remained high over the past nine months, with more U.S. cargo shipped to East Coast ports.
Typical ports are Charleston, Houston and Norfolk, all of which saw imports (in TEUs) increase by more than 30%. While West Coast ports have achieved "record throughput," their inbound throughput has increased by single digits in relative terms; Los Angeles (still the leader in inbound TEUs in absolute terms) is up 2.7 percent.
Based on February data, East/Gulf Coast ports saw more percent year-over-year change in throughput than West Coast ports. Shippers have made the switch, in part because they 've had enough of West Coast congestion.
But there are other factors at play behind the statistics. February benefited from the Chinese Lunar New Year, when most factories took at least two weeks off, and while the reduction in ship queues at West Coast ports was heartening, long-term supply chain observers warned that a slowdown in Chinese ports in February and early March could lead to a surge in ship arrivals in April.
Given the complexity of the supply chain, the subsequent impact of these vessels is unclear due to the difficulties of handling the movement of goods on the land side.
In the future, the existing contract between West Coast dockworkers and ports will expire on June 30, 2022, and some analysts say freight shippers will be willing to pay an "uncertainty premium" in the form of the increased cost of shipping goods to the East Coast.
As of Friday, 63 container ships were waiting outside ports on the U.S. East Coast and Gulf Coast, and another eight were waiting outside the Freeport transit center in the Bahamas, and it looks like the situation will get worse. The number of vessels currently waiting outside the ports of Los Angeles and Long Beach is 50.
With more and more cargo moving from the port of Los Angeles/Long Beach to the East Coast port of the United States, the next few months, the number of liner services from Asia to call at the ports of the East Coast of the United States will hit a new high.
The potential result: an expanding fleet of ships outside ports on the East Coast of the United States and a decline in the quality of service provided to shippers. Guangzhou Hongde International Freight reminds that the factors affecting freight rates are uncontrollable, and good delivery is the best policy.
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