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Released March 21, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The backlog of container ships at the Port of Los Angeles and adjacent Port of Long Beach recently reached its lowest level since late August 2021, as both ports processed a record amount of container activity for February.
The ports handle about 40% of all cargo containers entering the U.S., and as of March 18, had just 48 cargo ships in the backlog, according to the Marine Exchange of Southern California--down from a record-high 109 ships on January 9.
Trade often slows in February as manufacturing and industrial plants in Asia close for the Lunar New Year, and both ports used the downtime to clear out shipping terminals and reduce the number of vessels waiting to dock. At the Port of Long Beach, "the effort was boosted by workers returning to the supply chain following a decline in COVID-19 cases," according to a company press release.
Port of Los Angeles Executive Director Gene Seroka, in a company press release noted: "Since November, we've been able to increase the number of containers leaving our docks by 16%." However, he said, "We expect an increase in those vessel arrivals as soon as retailers begin to replenish their low inventories."
That shouldn't be a problem, though: The Port of Los Angeles reported processing a February record of 857,764 twenty-foot equivalent units (TEUs)--up more than 7% year over year. The Port of Long Beach also set a February record with 796,560 TEUs, a 3.2% increase year over year. Both ports also set records for annual processed cargo in 2021, thanks to a surge of imports.
The Biden administration recently announced a data-sharing initiative among supply-chain participants to strengthen the movement of goods. Some of the initial partners in the Freight Logistics Optimization Works (FLOW) program include: the Port of Long Beach, Port of Los Angeles and the Georgia Ports Authority (GPA); major global container shippers CMA CGM (France) and Mediterranean Shipping Company (MSC) (Geneva, Switzerland); retailers such as Target Corporation (NYSE:TGT) (Minneapolis, Minnesota); and logistics and warehousing companies such as FedEx Corporation (NYSE:FDX) (Memphis, Tennessee).
Industrial Info is tracking $27.4 billion worth of active capital-spending projects at U.S. cargo ports. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a full list of detailed project reports.
The Port of Los Angeles expects to kick off a $57.9 million Pier 400 storage tracks expansion in June. The project entails performing improvements at the pier's rail storage yard and bridge, which includes constructing rail tracks to increase port capacity. The completion is expected in late 2023. Subscribers can click here for the project report.
The Georgia Ports Authority accounts for $7.2 billion of the active capital spend at U.S. ports. This includes a $250 million Mason Mega Rail extension at the Port of Savannah, which is expected to be completed in October. The project will double the port's existing rail capacity, in order to improve the efficiency of moving containers from trains at the Garden City Terminal to trucks that deliver goods to e-commerce warehouses in major cities such as Atlanta, Memphis and Jacksonville. Subscribers can click here for more information.
GPA's $5 billion grassroot Jasper Ocean Terminal project along the Savannah River in Jasper County, South Carolina, just upstream from the Garden City Terminal, is in the early planning stage. The terminal will be 13 miles closer to the Atlantic Ocean than the Savannah port; feature a capacity of 7 million TEUs, and is a joint venture with the Jasper County City Council--after the South Carolina Ports Authority agreed last year to transfer its 50% ownership. GPA and city council officials currently are reviewing the proposed joint-venture agreement, according to the Jasper County Sun Times. Subscribers can click here for the detailed project report.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
The ports handle about 40% of all cargo containers entering the U.S., and as of March 18, had just 48 cargo ships in the backlog, according to the Marine Exchange of Southern California--down from a record-high 109 ships on January 9.
Trade often slows in February as manufacturing and industrial plants in Asia close for the Lunar New Year, and both ports used the downtime to clear out shipping terminals and reduce the number of vessels waiting to dock. At the Port of Long Beach, "the effort was boosted by workers returning to the supply chain following a decline in COVID-19 cases," according to a company press release.
Port of Los Angeles Executive Director Gene Seroka, in a company press release noted: "Since November, we've been able to increase the number of containers leaving our docks by 16%." However, he said, "We expect an increase in those vessel arrivals as soon as retailers begin to replenish their low inventories."
That shouldn't be a problem, though: The Port of Los Angeles reported processing a February record of 857,764 twenty-foot equivalent units (TEUs)--up more than 7% year over year. The Port of Long Beach also set a February record with 796,560 TEUs, a 3.2% increase year over year. Both ports also set records for annual processed cargo in 2021, thanks to a surge of imports.
The Biden administration recently announced a data-sharing initiative among supply-chain participants to strengthen the movement of goods. Some of the initial partners in the Freight Logistics Optimization Works (FLOW) program include: the Port of Long Beach, Port of Los Angeles and the Georgia Ports Authority (GPA); major global container shippers CMA CGM (France) and Mediterranean Shipping Company (MSC) (Geneva, Switzerland); retailers such as Target Corporation (NYSE:TGT) (Minneapolis, Minnesota); and logistics and warehousing companies such as FedEx Corporation (NYSE:FDX) (Memphis, Tennessee).
Industrial Info is tracking $27.4 billion worth of active capital-spending projects at U.S. cargo ports. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a full list of detailed project reports.
The Port of Los Angeles expects to kick off a $57.9 million Pier 400 storage tracks expansion in June. The project entails performing improvements at the pier's rail storage yard and bridge, which includes constructing rail tracks to increase port capacity. The completion is expected in late 2023. Subscribers can click here for the project report.
The Georgia Ports Authority accounts for $7.2 billion of the active capital spend at U.S. ports. This includes a $250 million Mason Mega Rail extension at the Port of Savannah, which is expected to be completed in October. The project will double the port's existing rail capacity, in order to improve the efficiency of moving containers from trains at the Garden City Terminal to trucks that deliver goods to e-commerce warehouses in major cities such as Atlanta, Memphis and Jacksonville. Subscribers can click here for more information.
GPA's $5 billion grassroot Jasper Ocean Terminal project along the Savannah River in Jasper County, South Carolina, just upstream from the Garden City Terminal, is in the early planning stage. The terminal will be 13 miles closer to the Atlantic Ocean than the Savannah port; feature a capacity of 7 million TEUs, and is a joint venture with the Jasper County City Council--after the South Carolina Ports Authority agreed last year to transfer its 50% ownership. GPA and city council officials currently are reviewing the proposed joint-venture agreement, according to the Jasper County Sun Times. Subscribers can click here for the detailed project report.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
