According to a recent report by Container Xchange, a specialist in container monitoring, container rents to the West Coast of the United States have soared by more than 220% since the Red Sea crisis began.
Shippers are moving cargo destined for the U.S. East Coast to West Coast ports, increasing throughput at Southern California ports as a result, which in turn has significantly increased container charter fees, the report said.
Another industry insider said that there is an expected shortage of containers due to the lack of empty containers shipped back to Asia from the United States. At the same time, the disruption of the U.S. East trade due to the Red Sea crisis and the Panama Canal restrictions may increase the demand for the U.S. West trade lane.
It is worth noting that the throughput of the West Coast port has increased significantly in January this year.
Among them, the Port of Los Angeles throughput in January was 855,652 TEU, setting a "second best start on record"; The Port of Long Beach also saw a 17% year-over-year increase in throughput in January5%, of which imports increased by 235%, and exports fell by 181%。
In the fourth quarter of 2023, U.S. consumer spending grew, with a growth rate of 33%, inflation is low, household spending is "solid", and the outlook for the US economy is positive.
Christian Reoloffs, co-founder and CEO of the agency, believes that the growth in consumer spending and retail sales data suggests that demand for goods is expected to see a "considerable recovery" as retailers restock and that demand for containers will continue to remain elevated.