FREIGHT MARKET UPDATE | WEEK 22 | 2024

2024-05-29T21:35:47+00:00May 29th, 2024|Freight Market, Freight Talk, Shipping News|

Week 22 sees a reopened Port of Baltimore, backlog at the Port of Charleston, and some improvement at the Panama Canal.

PORT OF BALTIMORE

The Port Authority of Baltimore opened a 50’ deep Fort McHenry Limited Access Channel to commercial vessel traffic. Bookings to the Port are now open for acceptance, subject to space, and equipment availability.

PORT OF CHARLESTON RESUMES OPERATIONS

South Carolina ports – notably Charleston- halted operations on May 19, 2024, due to technical software issues. The port ceased all container pickups and drop-offs through 2:30 PM EST on May 21, 2024. The Port of Charleston resumed full operations with extended gate hours last Thursday and Friday. However, congestion is expected to remain a challenge for the next few weeks until the backlog is fully cleared.

PANAMA CANAL

The Canal will implement significant increases in transit capacity, raising the total number of daily transits from 24 to 32. Effective June 1, 2024, an additional slot will become available for the Neopanamax canal.

PORT OF BALTIMORE RECOVERY EFFORTS

Officials are readying for vessel traffic by the end of May. With this positive development, carriers are expected to start calling Baltimore again beginning Week 21.

capacity lost to blank sailing, port omissions
U.S. west coast, canada, port congestion, dwell
U.S. East coast, port congestion, dwell times
U.S. Midwest, U.S. Gulf, Europe, port congestion, utilization, dwell times
latin america, panama canal, port congestion, port operations, container vessels
china ports, congestion, capacity, USEC, USWC, transatlantic, latin america

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