U.S. importers, driven by uncertainty over tariff policies and the impact of Middle East tensions, have pulled forward large volumes of cargo into the ports of Los Angeles and Long Beach, resulting in record container throughput in June.
The Port of Los Angeles handled over 1 million containers in June, marking the busiest June on record, with import containers rising 13% year-on-year. The Port of Long Beach saw container volume grow 10.6% to 779,000 TEU for the month. Combined import container volumes at the two ports surpassed 5 million TEU in the first half of the year, second only to levels seen during the pandemic.
The sudden front-loading of demand has directly driven up freight rates. Spot rates for a 40-foot container on the Shanghai-to-Los Angeles route rose to $6,482 last week, hitting a new high for 2024. This has significantly improved the earnings outlook for shipping companies. Maersk and Hapag-Lloyd have both recently raised their profit forecasts for the second half of the year, while Matson, which specializes in the Transpacific Express service, has seen its stock price accumulate gains of approximately 70% this year.
Analysts note that this peak reflects demand being pulled forward from later periods. Orders for autumn goods such as apparel have arrived noticeably earlier than in previous years. Some carriers are already seeing capacity ease and have begun offering discounts. The National Retail Federation expects import volumes to remain elevated in July but warns they may begin to decline starting in August due to factors including tariffs.
FROM:
https://sj.cfi.cn/newspage.aspx?id=20260716000220&client=phone
Written by Mario
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