WEEK 53 MARKET UPDATE

EAST COAST

PORT HOUSTON ANNOUNCES DAILY FEE FOR IMPORT CONTAINERS TO REDUCE LONG-TERM DWELL

Port of Houston has decided to implement a Sustained Import Dwell Fee that is expected to go into effect on 1 February. With this new fee, the US port aims to maintain fluidity at the Bayport and Barbours Cut Container Terminals and  address long-term dwell. In its announcement, the port noted that this fee is in addition to the demurrage charges for  loaded import containers provided for in those subrules and does not replace those charges. 

NORFOLK SOUTHERN TO SHUT CONTAINER SPILLOVER LOT NEAR MEMPHIS

Norfolk Southern Railway will shut one of two Container spillover lots outside Memphis this week after a significant  reduction in rail boxes coming into the inland hub from Savannah 

Containers at the port_RTW

West Coast

CONGESTION EASES AS CONTAINER VOLUMES FALL AT PORT OF OAKLAND

The Port of Oakland reports that congestion has eased thanks to a big drop in November container volumes.Total loaded container volumes at the Port of Oakland declined 15% compared to November 2021, to 131,929 loaded. On the other hand, November’s empty container exports rose 75.6% compared to the same month last year. The Port of Oakland said with weakening demand and ocean rates continuing to drop, sailings will continue to be cancelled and the introduction of new services will be postponed. “As a result, the wait-time for berths is less than earlier this year, so ships are spending less time at Port of Oakland facilities. Terminal yards are also beginning to shed extra containers from their yards,” the Port of Oakland said. 

PORT OF LONG BEACH CHANNEL DEEPENING PROJECT WINS FEDERAL AUTHORIZATION

The Port of Long Beach’s $200 million channel deepening project has won federal authorization. The project promises to  improve navigation and safety, especially for bigger vessels, at the nation’s busiest port complex. Long Beach’s Channel  Deepening Project was one of only five navigation projects nationwide that made the cut for construction authorization  

under the Water Resources Development Act (WRDA) of 2022, which was packaged with the National Defense  Authorization Act for fiscal year 2023 The Port of Long Beach’s Channel Deepening Project is a central component of the  port’s Master Plan and has been in the works for more than eight years.  

Shipping containers at port_RTW

ONE ACQUIRING THREE US WEST COAST CONTAINER TERMINALS

Ocean Network Express (ONE) is acquiring majority stakes in three US West Coast container terminals from two of its  parent companies – Mitsui OSK Lines (MOL) and NYK. 

Drayage

HAPAG-LLOYD HIT WITH FMC RAIL DEMURRAGE COMPLAINT

The filing is just the latest in a barrage of complaints made against various container lines with the FMC in recent  months, a flurry accelerated by major reform of US shipping law that went into effect in June.

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