Shipping
Port of Savannah container trade up 17% in April
Port of Savannah container trade up 17% in April
DP World to launch US$2.5B logistics infrastructure investment in 2025
Port of Long Beach sees record April, warns of sharp May drop amid tariff impact
Suez Canal introduces rebates to regain containership traffic
CMA CGM warns extended China-US tariffs could disrupt global trade
U.S. slashes ‘de minimis’ tariff on small China parcels to 30%
LA, Long Beach ports warn of continued tariff uncertainty
China-US deescalation may spur early peak season
Yang Ming: US-China trade deal may spur demand, but uncertainty persists
US-China tariff pause offers temporary relief, could fuel another frontloading rush
Transpacific shipping faces capacity cuts as trade war escalates
Houthi ceasefire raises prospect of container traffic returning to Red Sea
Kale Logistics to develop Oman's national port community system
PSA BDP takes majority stake in Mexico’s ED Forwarding
Xeneta: ‘Ships for America Act’ adds more uncertainty to container shipping market
JAFZA marks 40 years with record US$190B in trade
Seafrigo expands multi-modal services to support global expansion
US port fees to have minimal impact on Transpacific niche carriers
Port fo NY/NJ is busiest US port in March
S&P: Liner shipping contributes US$1.1T to U.S. GDP
deugro Thailand delivers critical reactors for sustainable fuel production
Emirates Shipping Line joins World Shipping Council
Japanese shipyards may benefit from US port fees on Chinese vessels
MOL opens office in Washington, D.C.
Red Sea disruptions push shipping carbon emissions to record high in 2024
Port of LA expects a double-digit volume decline in the second half amid tariffs
DP World sources 65% of its electricity from renewables in 2024
Hapag-Lloyd: 30% of China’s US-bound shipments canceled
Port of Antwerp-Bruges says impact of US tariffs minimal for now
COSCO says planned US port fees threaten shipping, global supply chains
Yang Ming extends lease at Kaohsiung Port, acquires new containers
Transpacific sees surge in blank sailings amid escalating tariffs
UNCTAD: Global economic growth may slow to 2.3% amid mounting pressures
Port of Long Beach becomes the busiest U.S. port in Q1
IMO approves net-zero regulations for global shipping
India ends transshipment facility for Bangladesh exports
US softens stance on proposed port fees for Chinese vessels
Adani’s Colombo Terminal commences operations
Gemini shuttles hit 98% schedule reliability in February
Airfreight demand from China, Hong Kong to the US declines as rates rise
ZIM signs long-term charter deals for 10 LNG-powered 11,500-TEU vessels
Georgia Ports’ container trade grew 22.5% in March
CMA CGM inks AI deal with Mistral AI
Port of New York and New Jersey reports second-busiest February
Maersk's APM Terminals acquires Panama Canal Railway Company
ICS: Proposed US port fees on Chinese vessels to severely disrupt supply chains
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Hapag-Lloyd makes Philippine inaugural at ICTSI Manila
Yang Ming acquires three methanol dual-fuel ready vessels
Maersk shares updates on upcoming US reciprocal tariff plan
ONE highlights need for adaptability in volatile markets
WorldACD: Global air cargo rates rise as post-NY market rebounds
Chinese shipbuilder unveils LNG dual-fuel vehicle carrier
SATS partners with Guangtai to innovate ground support technology
SC Port's Inland Port Greer expands capacity by 50%
Hong Kong exporters remain positive despite growing trade tensions
Singapore opens applications for methanol bunkering licence
Tariff turmoil persists, though ocean freight rates continue to decline
UN agencies express grave concern over increased satellite interference
Baltic Hub welcomes multiple new services
Port of Savannah achieves busiest February on record
UK freight association seeks solutions to uninsured cargo
Rotterdam, Singapore boost green, digital shipping partnership
MSC announces standalone East/West network
Singapore, India ink deal to boost maritime digitalisation, decarbonisation
World Shipping Council calls on the U.S. to drop its planned port fees
Port of NY/NJ secures landmark lease extension with APM Terminals
Container rates slip amid signs of overcapacity
SC Ports expands weekly services with new ocean carrier deployments
Port of LA reports continued growth in shipments for February
Sea-Intel: Major ocean carriers profitability around US$60B in 2024
Adhira Shipping and Logistics sees continued demand for Cape Size carriers
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MPA, CMA CGM sign MoU to boost sustainable shipping, digital innovation
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Houthis ban U.S. vessels from the Red Sea; Trump vows end to the aggression
Hapag-Lloyd's port arm buys stake in terminal operator in Le Havre
MOL makes major stride in developing ammonia-powered carrier
WorldACD: Flat markets slightly above last year's levels
Frontloading continued to drive volume growth at the Port of Long Beach
Yang Ming plans regional route expansion amid evolving trade tensions
Malaysia's Sin-Kung Logistics eyes air cargo with Prima Air acqusition
Tianjin Port eyes increased container throughput to 35M TEUs by 2035
ILA-USMX officially sign six-year port contract through 2030
U.S. tariffs to accelerate relocation of factories to South, Southeast Asia
Singapore launches new standard on methanol bunkering
MOL strengthens chemical logistics business with new acquisition
MOL launches 1st onshore supply of green hydrogen produced at sea
DP World and Mawani inaugurate US$800M terminal in Jeddah
CMA CGM to invest US$1B for new Chicago air cargo hub
Trump halts Canada, Mexico tariffs again for another month
Trump unveils plans for new office of shipbuilding
CK Hutchison sells int'l ports business to BlackRock, MSC for US$22.8B
CMA CGM's first dual-fuel methanol vessel makes maiden call at Singapore
Alibaba, Maersk partner on container shipping services
MOL joins e-methane alliance e-NG Coalition
Freight pricing, contracts become more fluid
Port of New York and New Jersey records third busiest January ever
Viasea Shipping relaunches London Thamesport service
PORT OF LONG BEACH RECORDS ANOTHER MONTH OF CARGO SLOWDOWN
April 19, 2023

Port of Long Beach recorded another month of cargo slowdown in March as retailers continue to clear warehouses and shippers shuffle routes from the West Coast to seaports on the East and Gulf coasts.

 

In a statement, the port said trade declined nearly one-third from the same period last year with Port of Long Beach moving 603,878 twenty-foot equivalent units (TEUs), down 30% from March 2022, which was the port's busiest March on record.

 

It said that imports decreased 34.7% to 279,148 TEUs while exports increased 16.9% to 133,512 TEUs.

 

Meanwhile, empty containers moved through the Port declined by 40.5% to 191,218 TEUs.


"Warehouses remain full and fewer cargo containers are crossing the docks because consumer spending remains slow," said Mario Cordero, executive director at the Port of Long Beach.

 

"We are ready for a rebound in retail as we work with our industry partners to recapture market share," he added.

 

Sharon L. Weissman, president of the Long Beach Harbor Commission, for her part, noted the continued investment in port infrastructure at the Port of Long Beach despite the current trade slowdown.

"We continue to invest in our infrastructure projects and look for ways to efficiently and sustainably move cargo so our customers new and old are reminded why we are the Port of Choice," Weissman said.

 

"We will be ready when cargo volumes are on the rise again."

Economists say financial markets are starting to stabilize following fears of a banking crisis in March. Additionally, consumers spent less as income growth slowed, savings buffers declined and credit card debt rose.

Meanwhile, the Port of Long Beach noted that it has moved 1,721,326 TEUs during the first quarter of 2023, down 30% from the same period in 2022.