Chinese shipping lines ship more empty containers than full ones from the US West Coast
CNBC analyzes container movement data for 2020 and 2021 from the ports of Los Angeles and Long Beach, USA, and import and export data collected by IHS Markit PIERS.
Accordingly, two major Chinese shipping companies have transported more empty containers than fully loaded ones from the port of Los Angeles, OOCL, based in Hong Kong, and its parent company, COSCO , is headquartered in Shanghai city.
OOCL recorded a 35.1% decrease in the volume of goods carried in containers, and an increase of 104.1% for empty containers. For COSCO, the volume of goods in transit in containers increased by 4%, while the increase for empty containers was 104.6%.
“According to industry-wide data, exports from the US West Coast have been on a downward trend since 2019, driven by a range of factors including changes in market demand,” OOCL said. said.
“The OOCL base on the West Coast is the Long Beach container port. For reasons related to operational efficiency and cost, we have moved cargo from many other ports to Long Beach port, thereby making our cargo traffic at those ports reduced”.
The results of data analysis at the port of Long Beach show that OOCL is the leading enterprise in the list with a decrease of 3.2% for containerized goods, in addition, an increase of 31.61% for the number of containerized goods. Empty containers for export.
Container ships wait to unload at the ports of Long Beach and Los Angeles, USA, October 13, 2021. Image: Getty Images. |
Analysis of import and export data at the Port of Los Angeles also showed a downward trend in exports in March. The volume of containerized goods moving through the port has decreased in the most recent 37/39 months. US exports through this port have fallen to their lowest level since 2002.
Similarly, US exports through the port of Long Beach have also fallen to their lowest level since 2009.
Government action
The Federal Maritime Commission (FMC), the government agency tasked with protecting U.S. maritime commerce, recently announced that it will be expanding its inspections to target U.S. maritime commerce. trade by large shipping companies as well as smaller ones with operations in 2021.
Congress is also in the process of revising the 1984 Maritime Code to discourage practices that the FMC describes as unjustified export denials. Both the Senate and the House of Representatives have passed their own changes to the legislation. Many sources told CNBC that discussions are underway to unify those changes into a complete law, which will then be submitted to President Joe Biden for signature.
“If these reports are true, it should serve as a wake-up call for American producers, farmers and ranchers who have worked tirelessly to feed the people. consumers globally, that they’re being treated unfairly,” Republican Senator John Thune, of South Dakota, commented on CNBC’s analysis.
“It will also increase the urgency for Congress to pass the Shipping Reform Act, which has already been approved in the Senate, thereby leveling the playing field for U.S. exporters, and give federal agencies more control over shipping businesses.
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