CNBC reported April 24 that export and import volumes (not dollar values) at the six largest U.S. ports are down from one year ago by between 13% (Savannah) and 38% (Los Angeles), with the only exception being the Port of Houston, where the trade volume handled is flat from April 2022.
Worse, “ocean bookings” measured in 20-foot equivalent units (TEUs)—that is, goods designated at a foreign port for shipment to a U.S. port—have steadily declined since last July, and the FreightWaves 7-day index of booked TEUs for all U.S. ports is now nearly 60% lower than in July 2022.
