East Coast ports – particularly New York/New Jersey – are benefiting from cargo diverted due to West Coast congestion, according to the firm’s U.S. import data.
U.S. container imports are down more than 5 percent in 2015, with the nearly the entire drop attributable to West Coast ports, according to statistics released Wednesday by the trade data firm Zepol Corp.
The ports of Los Angeles and Long Beach, which make up a combined 40 percent of U.S. container imports, declined by 19 and 20 percent, respectively, in January and February collectively.
East Coast ports have reaped the benefit, Zepol said, particularly the port of New York/Newark, which has seen import containers rise 8 percent so far this year.
“The decline along the West Coast has lead to diverted shipments and a surplus in volume across the Atlantic and Gulf Coast,” said Zepol Chief Executive Officer Paul Rasmussen. “Due to these events, it’s the first time in over 11 years the port of New York/Newark has passed Long Beach as the second-largest port in the United States.”
Total U.S. imports by TEUs (twenty-foot containers) dropped from 2.9 million in January through February of 2014 to 2.8 million in 2015. Combined, the Ports of Los Angeles and Long Beach have declined by more than 230,000 TEUs compared to the first two months of 2014.
Most U.S. East and Gulf coast ports have seen growth in containers, according to Zepol. The port of New York/Newark grew by more than 34,000 TEUs, Savannah by more than 40,000 TEUs (a 20 percent increase) and Houston by nearly 31,000 TEUs (a 29 percent increase).
Zepol: LA/LB ports take Jan-Feb import hit
