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Key US Ports for Resin Continue to See Record Level Activity in January
March 01, 2022
Two vital US ports for Resin imports and exports continued to see record level activity in the first month of 2022, as the ongoing supply chain crunch drove strong demand for cargo tonnage and containers.
In the West Coast where port congestion and shipping logjams are the heaviest, the Port of Los Angeles had the busiest January ever in its 115-year history and processed 865,595 Twenty-Foot Equivalent Units (TEUs), a 3.6% increase compared to last year. January 2022 loaded imports at Los Angeles reached 427,208 TEUs compared to the previous year, a slight decline of 2.4%. Loaded exports were at 100,185 TEUs, a 16% decrease compared to the same period last year. Exports have now declined 35 of the last 39 months in Los Angeles.
Empty containers, however, climbed to 338,202 TEUs, up 21.4% compared to last year due to heavy demand from Asia.
The record activity also comes as the Ports of Los Angeles and nearby Long Beach work to clear cargo space. Aging cargo at both ports has declined by 69% since late October, prompting both port authorities to hold off on consideration of a container dwell fee until the end of this week. Under a temporary policy, ocean carriers can be charged for each import container dwelling 9 days or more at the terminals. The ports plan to charge ocean carriers $100/container, increasing by $100/container per day until the container leaves the terminal.
Meanwhile in the Gulf Coast, a key petrochemical and resin production hub, the Port of Houston also had its biggest January ever for containers. Data for January showed Port Houston totaled 323,427 TEUs, up 27% from January 2021. Port Houston said the increase in containers was expected as importers pushed orders at origin prior to the Lunar New Year when factories in Asia traditionally close down for the holiday period and Texas exports of petrochemical and other products ramped up production to meet demand overseas.
The fast-growing demand has also led Port Houston to accelerate expansion projects at its container terminals, which include adding yard space, opening additional gates, widening road access to its facilities, and developing its workforce pipeline to handle the business.
By Brian Balboa for The Plastics Exchange.
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