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US cargo imports to grow in summer but will be below pandemic peak volumes
Posted on April 14, 2023 |
Import cargo volume at the US’ largest container ports is predicted to grow in the summer but will be below the high levels seen in the pandemic.
However, 2023 won’t repeat that as the numbers would be normal compared to pre-pandemic. At present, the focus is on fixing labor talks of the West Coast ports and avoiding supply chain problems.
The Pacific Maritime Association (PMA) and (ILWU) International Longshore and Warehouse Union's deal expired on 1 July but workers remained on the job. As a result, many shippers diverted cargo to avoid any possible trouble.
In 2023, on the West Coast, the flow of import containers and demand continues to drop as carriers drop service to Los Angeles-area ports.
In February, US ports handled 1.55 million TEU which is a drop of 14.4% from January and down 26.8% year over year, the lowest since 1.53 million TEU in May 2020.
H1 2023 is predicted at 10.8 million TEU, a drop of 20.2% from H1 2022, and the imports for all of 2022 totaled 25.5 million TEU, which is a decline of 1.2% from the annual record of 25.8 million TEU set in 2021.