EsThe Port of Houston Authority has signed a contract for three new cranes as part of its latest development program that runs through 2021. The cranes, along with a dredging program, are designed to allow the handling of vessels up to 18,000 TEU in capacity. The program will need to address a secondary issue, outlined in Panjiva’s research of Apr. 10, whereby the usage of the channel by oil tankers and large containerships can often come into conflict.
Panjiva’s analysis of official data shows container handling through the port has continued its rapid ascent with an 8.6% year over year increase in August, marking the 18th month of growth out of the past 20 and marking only a slight slowdown from the 10.3% rate seen in the prior three months.
Growth was dominated by a 22.4% year over year climb in exports, which in part may reflect a more efficient repositioning of containers given exports of empty containers fell 22.6% over the same period. The improving export situation nonetheless marks a contrast to California’s ports which have seen a 2.6% year over year decline in exports in part due to the U.S.-China trade war.
Source: Panjiva
Houston’s not been immune to the trade war, however, with total import growth slowing to 4.1% year over year in August compared to 5.9% in the prior three months and 9.6% in 1Q. Shipments from China fell 3.8% year over year in August, following an unchanged result in July, Panjiva’s data shows.
At the same time imports from Mexico have suddenly slowed with a 0.9% rise in August following a 17.7% surge in July and a 19.1% rise in 2Q. That’s partly been offset by a recovery in traffic from Europe and the rest of the world.
Source: Panjiva
The slowdown in traffic has been accompanied by a surge in competition between the container-lines and potentially route rearrangements. Shipments handled on Mexico-to-Houston routes handled by Hapag-Lloyd climbed 23.4% while those associated with Maersk and MSC fell 7.8% but those carried by CMA-CGM slumped 29.0%.
Source: Panjiva
