Port Houston reported that total container volumes for the year have reached 2.5 million TEUs from January to August. The US port handled 2,510,162 TEUs, a 4% decrease from the same period last year.
Due to a relatively balanced market of import and export demand, year-to-date empty container volume is down 17% with Port Houston handling 307,624 TEUs in August, a 20% reduction from the same month the previous year.
Overall container volumes at Port Houston fell in August compared to the previous year, owing to a significant reduction in empty container volume.
Moreover, loaded export volumes at Port Houston are up 10% year to date, maintaining the upward trajectory observed throughout 2023 and supporting overall volumes via Barbours Cut and Bayport Container Terminals.
These exports are primarily resins, and Port Houston is the top gateway in the US for resin exports, accounting for 59% of total resin exports. Year to date, loaded import volumes are down 7%. For the year, the combined loaded volume remains unchanged.
“After a record year in 2022, we were prepared to see a slight dip in import loads and export empty containers this year,” stated Roger Guenther, executive director at Port Houston.
He further added, “That said, we know the outlook is bright. The Texas economy is the 8th largest in the world and Port Houston is a vital gateway to millions of consumers. We are ensuring the fluidity of this gateway for the future by investing now in key infrastructure enhancements.”
Port Houston recently added three STS cranes to Bayport Container Terminal, which are large enough to accommodate 15,000 TEU vessels. Meanwhile, Wharf 6 at Bayport Container Terminal, is set to receive its first vessel this fall.
Furthermore, work on the Houston Ship Channel Expansion, known as Project 11, is also proceeding as planned, with more than 27 miles of the Galveston Bay area planned to be completed by late 2024.
Through August, total tonnage at all Port Houston terminals was down 6% to 33,752,499 short tons. Also, steel consumption is down 14% year to date, totalling 3,169,512 tons. However, auto import units have surged by 50% year to date compared to the same period in 2022.
