The Headlines: Ports all over the world are still seeing volume declines (yet are notably still higher than 2019). U.S. ports, for example, saw a monthly decrease of 9% in container import volume in November, with the East and Gulf Coast ports feeling the biggest declines. The largest decrease was in Chinese imports, as congestion at the Panama Canal and recent problem in the Suez Canal (see the Ocean Freight update below) are having a growing impact.
What’s Important: For its part, U.S. ports continue to invest in infrastructure improvements. Presently, federal, state, local, and private funds are being fed into infrastructure and technology developments, with funds expected to reach more than $25 billion by 2028. With the end game of optimizing port capacity and efficiency, the White House has spoken recently about the need for more government support to improve U.S. supply chains.