Container Volumes Fall at Most US Ports A combination of the Lunar New Year, ongoing labor negotiations and concern about a slowing global economy resulted in the Port of Los Angeles seeing a 43% year-over-year drop in container cargo in February. The port processed 487,846 20-foot-equivalent containers, down from last year’s 857,764. “February declines were exacerbated by […]
February still busy for Georgia Ports despite year-over-year, sequential dips Despite the headwinds of inflation, rising interest rates and high warehouse inventories, the Georgia Ports Authority said it had its second-busiest February ever. February container volumes totaled nearly 395,000 twenty-foot equivalent units, down from 460,400 TEUs in February 2022 but still 30,400 TEUs higher than […]
Despite big gains in New York, Los Angeles remained top port in 2022 For a brief moment last year, the Port of New York and New Jersey made waves with a single stat: It had become the largest port in the United States, dethroning the long-standing volume leader, the Port of Los Angeles. Though the […]
Slowing Warehouse Construction Could Extend Squeeze on Space, Experts Say Construction of new warehouses is slowing as developers grapple with rising interest rates and declining leasing activity, potentially prolonging an ongoing shortfall in logistics space. U.S. industrial construction starts fell 24% in the fourth quarter of 2022 compared with the same period a year earlier, […]
Ports Post Strong Volume for 2022 Despite December Drop-Off Despite a significant slowdown in the second half of 2022, two major West Coast ports approached the record-setting pace they had in 2021. Port of Los Angeles officials said the facility still finished as the nation’s busiest container port for the 23rd consecutive year, processing 9,911,158 […]
New ‘five-year plan’ to revive China as a modern logistics giant Increased demand has exposed cracks in China’s logistics infrastructure, but it’s hoping its new ‘five-year plan’ for the sector may be enough to stop an expected exodus of western multinationals. The General Office of the State Council last month announced its first long-term plan […]
What the latest warehouse data is signaling about inflation and the economy National warehouse storage rates remain elevated, but the prices did not rise quarter over quarter in Q4 2022, according to WarehouseQuote’s just-released Warehouse Pricing Index report. “Rates remain at these levels as a result of warehouse inventories not coming down significantly in November […]
Rail freight gets a boost in Europe but is stalled by strikes in UK New European routes are building on the momentum of a post-pandemic shift to rail freight, but strikes in the UK are adding to continental energy cost worries, threatening the change. In the past month, several new freight services across Europe have […]
Ports on Both Coasts See Drop-Off in Volume in November Port container volumes on the West Coast and East Coast declined in November, although shippers were focused on different factors. Labor talks between the 22,000-member International Longshore and Warehouse Union and Pacific Maritime Association, which represents 29 port and storage locations, continued to weigh on […]
Expansion Plan Announced for Port of New Orleans U.S. port capacity is going to get significantly bigger in Louisiana. Gov. John Bel Edwards, the Port of New Orleans and two global maritime companies on Dec. 13 announced the formation of a public-private partnership to build a new $1.8 billion container facility on the lower Mississippi […]
