Top North America Container Traffic Finishes On A High Note For 2017
Top North America Seaport TEU Review
During 2016, top North America seaport twenty-foot equivalent container units (TEUs) were on track to witness negative performance. This was the case through September for laden and empty imported/exported TEUs. It was not until October through December, that positive momentum was sustained to close the year out with an overall approximately 1.2 percent gain. The Hanjin Shipping bankruptcy served as a catalyst.
Port of Los Angeles, Source:Bing Images
For all of 2017, performance remained strong with top North America seaports witnessing 8.1 percent growth versus last year. This performance was 110-basis points (bps) lower from the performance recorded through November. Results have remained robust across West, East and Gulf coasts for the year, with each region witnessing double digit growth from select seaports.
*Note: The seaports of Port Everglades, Jacksonville, Halifax, Wilmington DE and Mobile do not provide monthly TEU data. These mentioned seaports are excluded from the total calculation, with the exception of Halifax which is included quarterly.
Decembers performance declined sequentially for the third consecutive month, recording the fifth lowest result over the past 17 months. This pattern has remained similar to the trends since March. Results have now been positive 15 out of the previous 17 consecutive months. Broader economic trends continue to drive demand as gross domestic product (GDP) improves inflation has come to the forefr....