Import-export imbalance continues
10.5 million TEU expected for 2021
The port of Los Angeles said Aug. 17 that it handled 890,799 twenty-foot equivalent units during July, marking 12 months of year-on-year growth.
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Register NowImports came in at 469,481 TEU for the month, while 91,349 TEU of loaded exports were moved.
Empty exports grew by just over 19,000 TEU to 329,878 TEU.
"The ratio of imports to exports is over 5-to 1, the widest gap we've seen yet," Port of Los Angeles Executive Director Gene Seroka said, adding that exports were down in 29 of the last 33 months.
He added that the US needs a renewed plan to rebalance exports to growing import levels.
The port handled 14,369 more containers in July than in June, when the Yantian port complex closure dampened volumes. A wave of vessels arriving from the affected South China gateways has since contributed to congestion at Southern California ports.
Numbers 'trending in the wrong direction'
"Incredible sustained demand has everyone pushing at top speed," Seroka said. "Anchorage and dwell time are trending in the wrong direction."
Port data for August shows that 90% of vessels head straight to anchor, joining a queue averaging 6.8 days of anchor time.
And concerns over partial closure of China's Port of Ningbo have led some sources to expect further supply chain slowdowns if the world's third busiest port shutters.
Platts Container Rate 13 -- North Asia to West Coast North America -- was assessed Aug. 17 on a Freight All Kinds basis at $7,900/FEU.
Full-year guidance
Seroka said the cargo forecast remained strong for the balance of the year.
"This year's peak looks a lot like it has over the past 12 months," he added.
The port expects to handle in the range of 10.5 million TEU for 2021. September volumes alone were expected to come in at around 880,000 TEU.
The port has handled 6.31 million TEU in the seven months through July 31, up over 36% from 2020, when first-half volumes languished on pandemic-related trade slowdowns.
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August 18, 2021 at 04:30AM
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