Posted on November 25, 2024
Still Up Year-to-Date
HOUSTON—Port Houston handled 3,430,212 TEUs through October of this year — 7% more than the same period last year. Container volumes in October specifically fell 15% compared to last October, reaching 309,623 TEUs. Despite this slight dip, volumes are expected to be solid through the end of this year. According to early market reports, activity is expected to surge in November and into the new year as users push volumes ahead of January’s labor contract expiration and the early Chinese New Year and factory closures in Asia.
In October, loaded imports decreased by 13% and loaded exports dropped 21% compared to last year. Yet, total loaded container volumes remain up 6% year-to-date, with steady demand in critical sectors like resins and minerals.
General cargo through Port Houston’s public terminals was down 5% in October. Steel imports saw a 25% drop for the month, reflecting a 7% decrease in Texas onshore and offshore rig activity. There have, however, been notable year-to-date gains in wind power equipment, plywood, and fiberboard. Total tonnage across all Port Houston facilities is up 3% year-to-date, totaling 43,559,771 tons.
“Port Houston’s performance throughout this year reflects our team’s resilience and adaptability amid challenging industry conditions,” said Charlie Jenkins, CEO of Port Houston. “We remain committed to serving our customers and growing Houston’s presence as a global hub for commerce.”
A new Strategic Plan, released earlier in November, outlines organizational priorities for Port Houston over the next years that include facilitating safe navigation, advocating for the Houston Ship Channel, and maximizing capacity, among other objectives. “This Strategic Plan recognizes the pivotal role we play in driving economic growth and fostering regional prosperity, and it will be our guide going forward,” said Jenkins.
A key component of the new Strategic Plan is continued investment in infrastructure designed to improve capacity, fluidity, and efficiency at the public terminals. Recently, five new rubber-tired gantry cranes (RTGs) arrived at Port Houston’s Barbours Cut Container Terminal, adding critical support for growing container volumes there. At Port Houston’s Bayport Container Terminal, an additional wharf is under construction, with expected completion in 2026.
