US West Coast ports are set to gradually recover part of the share that they have lost to their East Coast counterparts, with the latest data for May showing their strongest performance since 2021. The West Coast share rose to 54% after dropping to 47% last year, and the resolution off the ILWU contracts in both the US and Canada will pave the way for further normalization.
Transpacific rates have fallen to fresh lows with rates dropping to $1,100 to $1,150/feu to the West Coast which is below the SCFI assessment of $1,207/feu. Rates to the US East Coast rates took a larger tumble with rates set to drop below $2,000/feu compared to the current SCFI rate of $2,103. The resolution of the ILWU negotiations will put further pressure on transpacific freight rates as the threat of a peak season disruption to cargo flows into the US has been removed and with no pick up c
US west coast ports remain open despite the work actions taken by the ILWU last week, with the build up of vessels waiting at west coast anchorages largely under control. Although the Pacific Maritime Association (PMA) said that cargo operations at the port of Seattle were shut down on 9 and 10 June, this was disputed by the ILWU. Port productivity at Seattle and Tacoma have slowed with over the past week with port stays extended by several days and vessel berthing delays continuing although t
Overall congestion in North American ports has improved with around 900,000 teu of vessel capacity currently waiting at the main US and Canadian gateways, compared to a peak of over 1.5m teu in February. The West Coast has seen the largest improvements while the East Coast ...