Freight forwarding business news from ports and companies around the globe.
It has been a busy year for all of us at Cargo Services thanks our customers and their continued trust in our team. We regularly keep up with business news on ports, sailings and all things freight from around the world. It appears business is good for everyone, everywhere. Here’s the latest summary of what we’re seeing and reading.
Boosted by continuing sales growth, August is expected to be the busiest month on record for imports at the nation’s major retail container ports. This year is on track to set a new annual high, according to the monthly Global Port Tracker report released earlier this month by the National Retail Federation and Hackett Associates.
The Port of Vancouver is thriving amid higher box, grain volumes where 69 million metric tons of cargo were handled during the first half of the year, up 3.9 percent from the same 2016 period.
The Panama Canal is projected to see record tonnage next fiscal year in large part due to the newly expanded third lane, which opened last summer. For fiscal year 2018, which begins Oct. 1, record tonnage of 429.4 million tons, as well as 13,000 transits, including 2,335 Neopanamax vessels, is projected. In FY 2016, the most recent year for which after-the-fact figures are available, the canal recorded 330.7 million tons and 13,114 vessel transits, which was the third highest in its history, even with only three full months of traffic through the expanded canal.
Port of Los Angeles volumes rose 16 percent to 796,804 TEUs in July 2017 compared to the same month a year prior, marking the port’s busiest July, according to recent port data.
The Port of Long Beach set a new high-water mark for container traffic. The 720,310 TEUs that moved through Long Beach’s terminals last month surpassed the previous record of 703,652 TEUs, set in August 2015, according to recent port data.
Across the country on the east coast, the Port of Savannah saw a 6.8 increase in TEUs, while total tonnage increased 13 percent for the calendar year through July, according to the Georgia Ports Authority. Savannah’s Ocean Terminal saw large increases in tonnage with lumber doubling from 2,366 tons in July 2016 to 7,702 tons in July 2017 thanks to a strengthening construction industry.
Moving to the Pacific, the terminal operating arm of Chinese shipping company COSCO saw its container throughput increase 17.3 percent in July compared to the same month last year, newly released data show. Terminals operated by COSCO Ports handled 7.6 million TEUs last month, up from 6.5 million in July 2016, according to recent statistics from the company.