Your One-Stop Port Operations News Hub
Welcome to The Port Report, a monthly newsletter that brings you the latest statistics and news from our nation’s busiest ports. With access to NODE data from across the importer and exporter supply chain, EDRAY is in the unique position to provide data and insight into how our ports are operating, and what bottlenecks or pitfalls you can expect over the next 4 weeks.
In each issue of The Port Report, we provide updates on cargo volumes, infrastructure projects, and other developments that impact the shipping industry. We also highlight key trends and challenges facing the ports and the businesses that rely on them. Whether you are a shipping executive, a logistics provider, or simply interested in the inner workings of the port complex, we hope you will find The Port Report informative and valuable. If you have any questions our suggestions on how to make The Port Report more useful for you, contact us or email us at info@edraycpl.com
What to Expect from the Port Report
In addition to keeping you informed on the latest developments at the Ports, The Port Report also features interviews with industry experts, profiles of successful businesses that operate within the port complex, and analysis of the trends that are shaping the global shipping industry. EDRAY’s team of experienced supply chain professionals and data analysts is committed to providing in-depth coverage and insights that you won’t find anywhere else.
The Port Report – January 2023: The Ports of Long Beach and Los Angeles
For January, we’re starting with Ports of Los Angeles and Long Beach. As the busiest container ports in the United States, these two ports play a vital role in global trade and the economy of Southern California.
Stalled WC contract talks stoke ILWU strike concerns
A major issue is the stalled WC contract talks with the ILWU. With a Stop Work Meeting scheduled for Jan 12th, expect to hear that the union will start targeted terminal disruptions to push along talks and their agenda. Over 50% of shippers are considering diverting cargo due to fear of an ILWU Strike in the future.
According to JOC, “sources close to the West Coast contract negotiations say the ILWU is “slow-walking” the talks until the National Labor Relations Board rules on a jurisdictional dispute between the ILWU and the International Association of Machinists and Aerospace Workers over about 25 jobs at Terminal 5 in Seattle. The NLRB ruling is thought to be a month or two away. “
EDRAY CPL DATA: ETAs are trending up 15% higher than December total
January is set to be a strong month for total volume with container loads trending 15% higher than in December. EDRAY’s CPL platform allows shippers to see end-to-end visibility into their shipments, providing an paralleled view of their shipments, leading to better optimization, lower downtime, and fewer costs.
Asia-West Coast Rates still falling, normalized to almost pre-Covid levels
The Freightos Baltic Daily Index (FBX) assessed China-West Coast rates at $1,378 per forty-foot equivalent unit as December closed and is down 93% from its all-time high in September 2021. Shipping rates are finishing their full round trip since the beginning of the COVID-induced consumer boom — it’s back where it was at this time of year in 2019.
For shippers, now is a great time to explore RFP options to renormalize rate sheets and optimize distribution for better margins on lighter rates.
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