America’s Ports Hit a Record as Tariff Scramble Continues, Maersk Lifts New York — Panjiva
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America’s Ports Hit a Record as Tariff Scramble Continues, Maersk Lifts New York

Corp - Ports 661 Mode - Containerized 1005 Mode - Seaborne 1273 U.S. 3301

U.S. imports by sea climbed for a 17th straight month in July with an 8.0% expansion only slightly slower than the prior month’s 8.8% increase, Panjiva data shows. The resulted in a record 2.53 million TEUs handled. While 25% duties on Chinese exports worth $34 billion were applied from July 1 that didn’t slow Chinese exports, as outlined in Panjiva research of August 9. A further $16 billion will become eligible from August 23 and another $200 billion after that.

SPENDING OR PANICKING?

Chart shows U.S. inbound, seaborne containerized traffic on a monthly, quarterly and annual average basis.    Source: Panjiva

The biggest outlier from the broader expansion was Long Beach, which fell 3.8% after losing out to Los Angeles’s 8.4% increase. That reflected a loss of market share in shipments from both China (7.5%) and South Korea (24.9% lower). On the east coast New York continued to dominate growth after a 14.8% increase on a year earlier due to the presence of larger vessels after the Bayonne Bridge raising. Other east coast ports lost out though Savannah (up 10.2%) outperformed regional peer Charleston (5.0% higher).

NEW RECORD FOR NEW YORK

Chart segments U.S. inbound, seaborne containerized traffic by port of unlading. Bubble size indicates total handling in the past three months.    Source: Panjiva

Among the major container-lines visiting New York Maersk appears to have made the most of the opportunity. Its shipments in July topped 52k TEUs for the first time after rising 92% on a year earlier and having surpassed Hapag-Lloyd for the second month in a row.

THE BIG APPLE LOVES MAERSK’S BIG BOATS

Chart segments inbound, seaborne containerized traffic to New York by steamship SCAC.   Source: Panjiva

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