MSC and Hapag-Lloyd’s Texas Growth to be Held Back By Shipping Restriction — Panjiva


MSC and Hapag-Lloyd’s Texas Growth to be Held Back By Shipping Restriction

Corp - Ports 661 Corp - Shipping 608 Mode - Containerized 1005 Mode - Seaborne 1273 Mode - Tanker 170 U.S. 3297

Port Houston’s authorities have decided to limit the number of large containerships using the port to one per day. The measure is designed to avoid congestion that has held up exports of oil. The move is somewhat surprising given containerized freight accounted for 52.2% of volumes moving through the port after growing by 9.6% year over year in 2018. By contrast shipments of all non-steel cargo, including oil, contracted by 2.6%. The restriction will hurt the larger, faster growing container-lines the most. MSC saw a 33.9% jump in shipments in 1Q 2019 compared to a year earlier while Hap...

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