BRi Global News - US Import Spike Set to Run into Summer as West Coast Ports Struggle
Dear all Valued Customers
Container freight and charter markets are continuing to boom post-Chinese New Year, and analysts expect favourable conditions for carriers and shipowners to last at least into the second half.
While there is strong demand on the Asia-Europe tradelanes, it is the transpacific that is leading the charge.
Experts say the surge on the route has the ability to continue into Q2, mostly due to demand accumulating over the Chinese New Year closures and another round of stimulus payments coming soon.
The huge volume of imports into the US is still overwhelming the nation’s two biggest container hubs, at Los Angeles and Long Beach.
According to the port of Los Angeles Signal data, January imports were equivalent to 60% of the port’s entire import container throughput in the first quarter of last year.
Moreover, Signal forecasts for the remaining week of February indicate LA will be up more than 217% from on the same week of 2020.
Last week, Gene Seroka, the Executive Director of the Port of Los Angeles, said there were some 50 ships at anchor in the San Pedro Bay area awaiting an available berth at LA and Long Beach.
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