NWSA endures weaker than normal peak season

Total container volume at the Northwest Seaport Alliance (NWSA) for the month of October decreased a significant 13.6 per cent compared to 2021 levels.

Total container volume for the month fell to 285,315 TEU, with October full imports and exports declining 22.5 per cent and 28.2 per cent respectively.

Year-to-date (YTD) volumes declined 8 per cent to 2,905,183 TEU, with full imports and exports declining 12.5 per cent and 22.4 per cent respectively.

The port authority reported a slowdown in cargo operations in recent months, with laden imports and exports making a soft comeback in August.

According to NWSA, the early arrival of holiday-related goods led to weaker than normal import peak-season volumes, and void sailings by ocean carriers contributed to the year-on-year volume declines.

Moreover, exporters continue to face headwinds from a strong dollar, ongoing tariffs in key markets, and lower vessel capacity from voided sailings.

Domestic container volumes increased 0.4 per cent compared to YTD October 2021.

Alaska volumes increased 1.9 per cent while Hawaii volumes declined 5.7 per cent.

In October, NWSA Managing Members adopted a lease for Terminal 10 in Seattle with Ray-Mont Logistics Lease to support agricultural trade.

Terminal 10 is a 13.19-acre site on the west side of Harbor Island in Seattle, of which 8.1 acres will be utilised as a containerised transloading facility for agricultural products.

This month, NWSA announced its partnership with the Republic of Korea, the Busan Port Authority, and the United States Government to study the creation of a green cargo shipping corridor between the NWSA and the Busan Port Authority’s cargo gateways.