US ports are sending warning signals about trade flows in the new year, Wall Street Journal says. The first reports from gateways on both coasts indicate this container imports fell sharply over the past month, while shipping executives say they brace for weak demand in the first half of 2023.
A sustained decline in Southern California’s ports deepened in November, with combined imports to Los Angeles and Long Beach plummeting 26% to the lowest since the pandemic began. Inbound volumes at the ports of Savannah, Georgia and Charleston, SC also fell.
The figures signal that the ports business is feeling the effects of faltering US consumer demand and flagging Chinese exports.
Container lines and ports usually get a winter boost from Lunar New Year volumes from Asia, but executives don’t expect much to celebrate in the coming weeks.
