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Week 33 Market Update

VOLUMES EN ROUTE TO SAVANNAH SIGNAL SEPTEMBER SLOWDOWN: GPA

Year-over-year declines in import volumes amid weakening retail sales could help clear the queue of more than 30 vessels  outside Savannah during the fourth quarter, according to the Georgia Ports Authority. 

LOS ANGELES AMONG RECIPIENTS OF US DOT PORT GRANTS

The US Department of Transportation has announced project grants designed to improve container handling at three  ports, including the US’s largest gateway 

LA-LB TRUCKERS ADD TO PUSH FOR FMC ACTION ON EMPTY BOX RETURNS

The Harbour Trucking Association says it will provide evidence to the FMC about the burdens that West Coast drayage  carriers face in returning empties to Los Angeles–Long Beach marine terminals. 

WHITE HOUSE PORT ENVOY SAYS NATION’S ENTIRE SUPPLY CHAINS NEED 24/7 OPERATIONS, NOT JUST PORTS

All parts of the US supply chain — not just its ports — need to move to round-the-clock operations to alleviate snarl-ups  and reduce overall costs, President Joe Biden’s supply-chain czar said. “If only you or only a terminal goes to 24/7, that’s  interesting,” Stephen Lyons told Port of Long Beach Executive Mario Cordero in an interview Tuesday. “But if everybody  — including the warehousing community, all the other modes of transport — moved to 24/7, or something more than  today, that makes logical sense that you could move much more cargo in the same period. 

PROPOSED INLAND PORT IN THE MOJAVE DESERT COULD HELP UNSNARL NATION’S TOP PORT COMPLEX

With annual container volumes into the United States expected to increase in the coming decade, a proposed inland  port in California’s Mojave Desert is looking to serve as a relief valve for congestion for the nation’s top port complex Currently 20 million containers are processed by the Ports of Los Angeles and Long Beach each year, making it the  nation’s leading gateway for containerized imports from Asia. But that number is projected to rise to more than 30  million by 2030.The Port of Long Beach has seen record container traffic in recent years, which shows no sign of slowing  down. Being surrounded by the dense urban areas of Long Beach and South Los Angeles, there is limited real estate  available. The Mojave Inland Port is the type of innovative solution that will alleviate congestion and allow dockworkers  to do their jobs more efficiently, getting goods to businesses and consumers faster. 

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EMPTIES LIFT PORT OF LONG BEACH TO NEW JULY RECORD AS IMPORTS FALL

The Port of Long Beach reported July throughput numbers on Tuesday, showing its most active July on record despite a  “cooldown” in consumer spending. Dockworkers and terminal operators at the port moved 785,843 TEU in July, a slim 0.13% increase from the previous record set in July 2021.Total throughput was boosted by rising empty export  containers, offsetting a year-over-year imports decline. Imports fell 1.8% to 376,175 TEUs, while empty containers moved through the port rose 2.8% to 300,257 TEUs. Exports were down 0.5% to 109,411 TEUs. Looking by month, July’s numbers came in about 6% below June, which capped the port’s strongest quarter on record in Q2 2022, marking two consecutive quarters of record setting cargo volumes despite headwinds from inflation and fears of a looming recession. 

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