According to the latest McCown report, import container throughput fell 5.5% in September. This is a decline not seen since the early stages of the pandemic and is larger than the 0.3% seen in the previous month July and 0.6% in August.
"West Coast ports led to that overall decline with a drop of 17.0%, which is one of the steepest declines in years," the report said. Before that, the decline was 11.5% in August and 5.1% in July.
While port congestion figures continue to improve, the East Coast shift for US imports has increased. Output increased 6.6% for East Coast and Gulf Coast ports, led by New York and Houston ports. The report said concerns about labor unrest on the West Coast could be to blame for the shift to the East Coast.
September marked the 16th consecutive month where East and Gulf ports outperformed West Coast ports in growth rates. Los Angeles was the weakest port in September, down 26.3 percent year-over-year. Houston, Charleston and New York were the fastest growing ports.
“Given signs of slowing output, the final quarter of 2022 is likely to show lower import volumes than the previous quarter,” the report said.
While this report does not address the underlying causes of the drop in container throughput, other market reports have pointed to inflation in advanced economies and low consumer confidence as negative factors polarity with respect to container volume. For the United States in particular, many reports cited high retailers' inventories as another reason for the drop in output.
On the afternoon of October 1, at the meeting on the socio-economic situation in the first 9 months of 2024, the Department of Planning and Investment of Ho Chi Minh City said that many economic indicators have grown steadily. Notably, export turnover is on a recovery trend and has grown.
In the first eight months of 2024, Vietnam earned nearly VND 4 trillion from tea exports, surpassing the total export revenue of last year.
Australia has made another stride in its agriculture sector by announcing an agreement to export plums to Vietnam in the near future, in addition to the current exports of peaches and nectarines. This project is part of a two-way agricultural market access agreement aimed at providing Australian plums to Vietnam and Vietnamese passion fruit to Australia.
Today marks a significant milestone for Glotrans: our 5-year anniversary as a valued member of the WWPC Logistics Network.
On behalf of the entire Glotrans team, we would like to extend our warmest wishes to you and your loved ones for a prosperous, healthy, and joyful Lunar New Year 2025.
Dear Customers and Partners, Glotrans would like to announce the 2025 Lunar New Year holiday schedule as follows: Holiday: From January 25, 2025 (Saturday) to February 2, 2025 (Sunday) Back to work: February 3, 2025 (Monday)
