Bill Mongelluzzo, Senior EditorFeb 1, 2023, 3:18 PM EST
Articles reproduced by permission of Journal of Commerce.
Bill Mongelluzzo, Senior Editor
Feb 1, 2023, 3:18 PM EST
source : JOC.com (The Journal of Commerce)
Schedule reliability to the West Coast in December improved by 0.6 percentage point from November to 41.2 percent, according to the Global Liner Performance report released Wednesday by Sea-Intelligence Maritime Analysis.
The year-over-year gain, though, was “higher by a massive 31.4 percentage points compared to the 9.7 percent recorded at the same time last year,” Sea-Intelligence said.
Congestion at East Coast ports grew worse last year as retailers, concerned about the possibility of cargo-handling disruptions amid still-unresolved West Coast contract negotiations between terminal operators and the International Longshore and Warehouse Union (ILWU), diverted discretionary cargo to ports on the East and Gulf coasts. Vessel backlogs and terminal congestion at East Coast ports had mostly dissipated by December as weakened consumer spending caused imports from Asia to decline. Continued decline in imports expected Absent a disruptive event such as a breakdown in the ILWU contract negotiations, which are now in their ninth month, carrier on-time performance in the largest US trade lane is likely to continue improving because import volumes are expected to remain soft in the first half of the year. According to the Global Port Tracker that is published monthly by the National Retail Federation and Hackett Associates, US imports are forecasted to decline by double digits on a year-over-year basis at least through May.