Week 50 Market Update

EAST COAST

PORT OF SAVANNAH PIVOTS TO CONTAINERS ONLY

The Port of Savannah is upgrading to become a container-only facility to meet booming demand after a year-long  increase in cargo volumes. The port plans a $410m overhaul of one of its sprawling terminals to make room for loading  and unloading larger ships while focusing its business almost exclusively on cargo shipped in containers. The Georgia  Ports Authority approved the project recently under a plan to expand Savannah’s capacity for cargo containers by more  than 50% by 2025. 

NY/NJ TERMINAL UPDATE

Vessel waiting time average 2 days for APM terminal and PNCT terminal. Still the busiest East Coast port but seeing  improvement with removal of empty containers at terminals. Congestion wait times still a challenge, especially at PNCT.  Ongoing challenges securing warehouse delivery appointments. Cross dock and line haul services experiencing delays  averaging up to a week depending on delivery location and appointments. 

HOUSTON TERMINAL UPDATE

Vessel waiting time is 2-10 days due to fog, high import volume, and labor availability. Export receiving windows  extremely limited. General trucking capacity is averaging about 7 days. Chassis deficits are adding to congestion for both  Houston and Dallas. Starting Dec 1, 2022, Port of Houston will apply a Sustained Import Dwell Fee of USD 45 per unit per  day on day 8 after free time expires. 

TERMINAL UPDATE _RTW

WEST COAST 

LA/LB TERMINAL UPDATE

Empty container return restrictions still in effect and can change quickly. Chassis equipment for all sizes still in short  supply. Discharged units still going to undeliverable areas and not available for collection. Trucking queues often prevent drivers from pulling loads during allotted appointment times – if the appointment window expires, truckers will need to  secure a new appointment. Shortage of chassis and gensets and it is difficult to secure appointments to return empties.  Additional charges can occur if container cannot be picked up and or returned within the allotted free time. The Port of  Los Angeles and Long Beach Container Dwell Fee is on hold until Dec 16, 2022. This is separate from individual terminal  dwell fee agreements on long dwelling units. Long Beach is removing the weekend exemption for free time effective  September 1st, 2022. Free time will be inclusive of Saturdays and Sundays (except on legal holidays) when a container  terminal in Long Beach is open on either of those days. 

OAKLAND TERMINAL UPDATE

Current vessel waiting time is 8-10 days due to high import volume, yard congestion and labor availability. Yard  utilization at 78% of capacity. Ongoing delays for empty container returns, chassis availability and securing  appointments to pick up containers. 

SEATTLE TERMINAL UPDATE

Vessel waits time is 1 days due to berth congestion. Shortages of equipment, chassis and gensets and empty return  availability at terminals still an issue. General truck capacity delays averaging 7 days for all container types. 

U.S. CONTAINER IMPORTS NEAR PRE-PANDEMIC LEVELS IN NOVEMBER

U.S. container imports fell a whopping 19.4% in November compared to the same month last year as economic turmoil,  a reduction in retail transactions, and high fuel costs are finally starting to leave their mark on import volumes.

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