Total TEU volumes down 23.1%

Total container volume for February decreased 24.3% to 225,747 twenty-foot equivalent units (TEUs). Full imports declined 34% as imports continue to struggle due to ongoing soft demand and uncertainty around the PMA-ILWU contract negotiations. Full exports declined 0.3% but remain positive 1.5% YTD. Total TEUs declined 23.1% YTD to 438,842 TEUs, with full imports declining 32.1%.

The NWSA continues work to ensure terminal infrastructure and capacity are ready when market conditions improve. Phase Two of the Terminal 5 Modernization Program continues to make progress. Pile repairs are completed, and the first stage of concrete pours are 60% done. Operations at the south berth are expected to begin in Q1 2024. At full buildout, Terminal 5 will boast 185 acres with on-dock rail and an estimated 1.2 million TEUs of container-handling capacity.

Domestic container volume decreased 3.9% YTD 2023 compared to YTD 2022. Alaska volumes decreased 0.7%, and Hawaii volumes declined 16%.

Other cargo stats:

• Breakbulk volume declined 11% for 63,797 metric tons. Because of high container freight rates and lack of availability on container vessels last year, some cargo shifted to Ro-Ro vessels. Now that container rates are cooling and service level has returned, cargo is transitioning back. In addition, higher-tonnage Ro-Ro vessels have been redeployed from the Transpacific trade to the Transatlantic and Oceania trades in response a shortage of tonnage capacity in those markets. Capacity on the trades should be more balanced by Q3 2023. Carriers have also been using space on vessels for transport of autos at the expense of High and Heavy cargo.
• Auto volumes were 46,551 units, up 48.6%. GLOVIS America’s consolidation of its Kia and Hyundai business in our gateway in September of last year will continue to make for favorable month-over-month comparisons in 2023.

View the February 2023 cargo reports:

• Container volumes – February 2023
• Cargo statistics – February 2023