MarineTraffic is reporting that approximately 460,000 twenty-foot container equivalent units (TEUs) were loaded on vessels waiting off the East Coast ports and 180,000 TEUs are stacked on vessels off the West Coast ports as of July 13.
This equates to tens of billions of dollars in trade being either landlocked or anchored at sea in the United States and in Europe as congestion builds at the ports.
There is approximately USD$30billion in trade on vessels anchored off the East Coast and West Coast of the USA. In addition, there is c~USD$1.5 billion in trade landlocked at the Ports of Long Beach and Los Angeles waiting for rail service.
This information comes on top of reports that surfaced in late 2021 that The National Guard could be deployed to help with the cargo ship bottleneck.
Containers continue to pile up at Californian ports
Compounding this issue is the pile-up of containers, bound for rail waiting, at the Ports of Los Angeles and Long Beach.
CNBC reported The Port of Los Angeles informed them that there is a total of 19,665 rail containers that have been waiting nine days or longer, while the Port of Long Beach reported a total of 13,819 rail containers waiting the same time frame.
Over 60% of all containers waiting at these ports are destined for the rail.
MDS Transmodal approximates the total value of trade inside those containers is over $1.54 billion dollars.
The Port of Long Beach has confirmed that these long-dwelling containers continue to clog up the port’s land capacity, which is inhibiting the movement of trade within the port. As a result, land capacity at the Port of Los Angeles is at 90% full, and space is at an absolute premium. For efficient land capacity, 70-75% is the optimal goal. As a result of this increase in container volumes, vessel processing is taking more time.
With such volatility in both major Californian ports, as well as various East coast ports, seemingly never-ending, TFG Global has been working very closely with our existing clients to re-route existing shipments and change bookings on future shipments to try and avoid this carnage. This is all part of the TFG Global service, and we implore you to reach out if you want to discuss any freight requirements you have
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