Northwest Seaport Alliance (NWSA), a marine cargo operating partnership of the ports of Seattle and Tacoma, reported lower total container volumes in February, compared with the same month last year.
In particular, NWSA noted a 24.3% decline in February box volumes, reaching 225,747 TEUs with full imports decreasing by 34% as imports continue to struggle due to ongoing soft demand and uncertainty around the PMA-ILWU contract negotiations. At the same time, full exports remained relatively steady with a marginal 0.3% drop.
During the first two months of 2023, NWSA has moved 438,842 TEUs, translating to a 23.1% decrease compared with the same period in 2022. Full exports gained 1.5% year-on-year, full imports hit by a significant 32.1% fall.
“Because of high container freight rates and lack of availability on container vessels last year, some cargo shifted to Ro-Ro vessels,” commented NWSA, pointing out that “now that container rates are cooling and service level has returned, cargo is transitioning back.”
