West Coast port cargo surge hits record
The Port of Los Angeles achieved a significant milestone in October, handling 905,026 twenty-foot equivalent units (TEU), a 25% increase over the previous year. This marks the first time that the port’s throughput has exceeded 900,000 TEU for four consecutive months. Gene Seroka, executive director of the Port of Los Angeles, highlighted the factors driving the increase: "Transportation costs will likely be driven up by strong consumer spending, an early Lunar New Year, unresolved importer concerns about labor issues on the East Coast and the possibility of new tariffs next year. ” The port's year-to-date performance reflects this momentum, with 8,491,420 TEU handled in the first 10 months of 2024, a 19% increase over the same period in 2023. Data for October includes: 462,740 TEUs Import loadings (up 24%), 122,716 TEU Loaded exports (up 1%), 319,570 empty containers (an increase of 38%). Meanwhile, the Port of Long Beach reported stronger results. In October, the port handled 987,191 TEU, a year-on-year…
China-driven surge in U.S. imports puts pressure on major ports
According to the latest global shipping report from Descartes Systems Group, U.S. container imports surged in October 2024, reaching 2,494,635 TEU (20-foot equivalent units). This marked the fourth consecutive month that throughput exceeded 2.4 million TEU - a threshold that has historically put pressure on U.S. port logistics. The data for October increased by 8.1% year-on-year, a sharp increase of 20.5% from 2019 before the epidemic. Year to date, imports are up 13.1% from 2023 and 16.9% from 2019. These increased volumes highlight the strong performance of U.S. imports in 2024, especially compared with the modest 3.4% growth in 2019 observed in early 2023. However, the surge in imports has created logistical challenges. Transit delays increased at seven of the top 10 U.S. ports in October as facilities on the Eastern and Gulf Coast faced a three-day strike by the International Longshoremen's Association (ILA). "Import volumes have been high for four months and port operations are showing pressure as transit…
Strike fears drive import surge at U.S. ports
U.S. container imports are expected to increase through the end of the year as retailers prepare for possible East Coast and Gulf Coast port strikes and higher tariffs under President-elect Donald Trump. Uncertainty over labor negotiations and proposed tariffs is prompting retailers to speed up shipments and reroute cargo to West Coast ports to avoid disruptions, according to the National Retail Federation's latest Global Port Tracker report. In October, the International Longshoremen's Association (ILA) held a brief strike, eventually reaching a tentative agreement to extend the contract until January 15 and consider increasing wages. Jonathan Gold, NRF's vice president of supply chain and customs policy, warned that if negotiations reach an impasse, a prolonged strike could occur, triggering contingency measures by shippers. Ben Hackett, founder of Hackett Associates, added that the recent surge in imports was driven primarily by these preemptive actions rather than organic demand. Against this backdrop, President-elect Trump has proposed imposing tariffs of up to 20% on…
New Subaru Forester sales continue to decline, but BRZ sales surge
Subaru's year-to-date sales are up 5.2%, with sales in the first 10 months of 2024 totaling 548,164 vehicles go through Brad Anderson 1 hour ago Subaru continued its 27-month sales growth momentum, but sales of four models, including the Forester, fell in October. The Crosstrek tops the list of Subaru's best-selling models, surpassing the Outback and Forester models. Forester sales fell for the second consecutive month, although year-to-date sales are still up 17.8% from 2023. Subaru's U.S. sales rose for the 27th consecutive month in October, but it wasn't all smooth sailing. Sales of four models, including the 2025 Forester, are down, a reminder that even for Subaru, the road to growth can have some bumps in the road. Last month, the Japanese automaker sold 54,552 vehicles nationwide, a slight increase of 1.5% from October 2023's sales of 53,772 vehicles. This brings Subaru's year-to-date sales to 548,164 units, up 5.2% from the 520,995 units it moved during the same time…
Musk predicts Tesla sales will surge 30% in 2025
Tesla CEO makes another prediction, and shareholders love it At the shareholder meeting, Elon Musk predicted that Tesla's sales will grow by 20% to 30% in 2025. He said the "best guess" was the result of plans for low-cost vehicles and autonomous driving. The company's shares rose more than 10% after Musk's upbeat sales outlook. Tesla's car sales will increase by 20% to 30% next year, at least that's what CEO Elon Musk predicts. The automaker is already the most profitable electric vehicle maker in the industry. Musk has always said that now, the path to further success appears to be paved with more affordable models and autonomy. At Tesla's third-quarter shareholder meeting, Musk mentioned his forecast for sales growth of 20% to 30%, entirely on his own initiative and not as an answer to a shareholder question. Read: Cybercab has no charging port, but Tesla promises 90% wireless efficiency Musk, who is often known for his overly optimistic timetables,…
Global electrified sales surge 31% in September
China broke record deliveries of electric cars and plug-in hybrids, with sales topping 1 million for the second month in a row, making September the best sales month globally go through Chris Chilton October 20, 2024 15:30 Global electric vehicle sales reached a record 1.7 million units in September, with deliveries soaring 30.5%. China is driving the boom, with demand for pure electric vehicles and plug-in hybrids climbing 47.9%, Reuters reported. North American deliveries rose 10% from January to September but only increased 0.4% last month. China's relentless enthusiasm for electric vehicles made September a record month for global sales, although some markets remain mired in their usual sluggishness. Global deliveries of battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) surged 30.5% to a total of 1.7 million vehicles. According to Rho Motion data reported by Reuters, 1.1 million of them were snapped up by Chinese buyers, with sales soaring 47.9%. September was the second month in a…
Brief strikes at U.S. ports won’t derail import surge
U.S. container imports are expected to remain strong despite brief three-day strikes at Eastern and Gulf Coast ports, supporting the upcoming holiday shopping season. The strike was initiated by the International Longshoremen's Association on October 1 after its main contract with the American Maritime Union expired, but it ended quickly and temporarily extended the contract until mid-January. READ ALSO: Protracted port strike narrowly avoided for now Retailers and consumers alike are relieved by the swift resolution. Jonathan Gold, vice president of supply chain and customs policy at the National Retail Federation (NRF), stressed that while it will take several weeks for ports to recover, holiday shipments are not expected to be significantly affected. In fact, U.S. ports have been handling strong cargo volumes. August increased 19.3% year-on-year to 2.34 million twenty-foot equivalent units (TEU), the highest level since May 2022. September's figure is expected to rise 12.9%, and October's growth is expected to be 3.1%. % Increase. Overall trends indicate…
Mitsubishi’s third-quarter sales surge 42%, Mirage surges 152%
The brand's third-quarter success far exceeded current market trends in the United States. go through Brad Anderson 16 hours ago In the first nine months of 2024, Mitsubishi's sales in the United States reached 82,817 vehicles. Sales of the Outlander Sport, Outlander, Outlander PHEV and Eclipse Cross all increased in the third quarter. The affordable Mirage hatchback and sedan have been discontinued for the 2025 model year. Mitsubishi's third-quarter performance in the U.S. went against many of its rivals, with sales rising sharply. This growth also significantly outpaced overall market trends. In the third quarter of 2024, Mitsubishi sold 31,588 vehicles in the United States, an increase of 42% from 22,196 vehicles in the third quarter of 2023. Year-to-date sales have also increased, up 22.1% from 67,736 units in the previous nine years, from 82,817 units last year to 82,817 units this year. To put these figures into broader context, overall U.S. light vehicle sales fell 0.5% in the third…
U.S. exports surge 13% to $521 million
US explosives exports In 2023, explosives exports fell by -22.2% to 32,000 tonnes, marking the second consecutive year of decline after two years of growth. Overall, exports continued to decrease significantly. The fastest growth was recorded in 2021, when it increased by 24% over the previous year. During the reporting period, exports reached an all-time high of 53,000 tonnes in 2016; however, from 2017 to 2023, exports remained at a low level. In terms of value, exports reach $521 million in 2023 (IndexBox estimate). During the reporting period, exports continued to show a clear downward trend. The most significant growth was in 2021, when exports increased by 13%. During the reporting period, exports reached an all-time high of $770 million in 2015; however, from 2016 to 2023, exports were slightly lower. Exports by country Canada (21,000 tons) is the main destination for U.S. explosives exports, accounting for 65% of total exports. In addition, the amount of explosives exported to Canada…
Explore the latest exhibition information and industry trends at ASAP Expo Magazine. Your one-stop platform, bringing together global exhibition highlights, industry trends and in-depth analysis, to help companies accurately connect with the market and seize business opportunities.
