U.S. ports are facing an environment of slowing growth, with inbound containerized volumes rising by just 3% on a year earlier in April vs. 8% in the first quarter. That’s been caused by a downturn in volumes from China that is particularly relevant for Long Beach (69% of its volumes in the past 12 months), LA (63%) and Seattle / Tacoma (52%) vs. the average of 41%. Potential new duties on $150 billion of Chinese exports would exacerbate that situation. Long Beach did better than LA though as a result of COSCO Shipping diverting volumes to its facilities there. On the east coast Newark /...
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