News & Events > Insights

August 10, 2023 – U.S. top ten ports generally continued to show negative throughput results year over year for the month of June, but Cargomatic President Ed Aldridge believes that better times are coming.

According to Ed, “2021 and 2022 were indeed very strong and unprecedented years. Right now the industry is facing a market correction with a shifting of consumer spending to more services vs. durable goods and continued excess inventories. However, I have full confidence that the volumes will be back on a normal cycle in 2024, which isn’t too far away.”

He also remarked that during this time of market correction, many shippers have “thoroughly reevaluated” their entire supply chains, including the first and last mile for international shipments as well as domestic ones.

“This has afforded Cargomatic the opportunity to present its capabilities across America and become part of the solution for many shippers. Our exceptionally strong team of professionals with deep customer relationships, an excellent technology platform and services at highly competitive rates have garnered Cargomatic incredible customer support. Our market presence is growing at an exceptional pace and this trend will continue,” Ed stated.

Meanwhile, peak season is the time of year when most cargo comes into U.S. ports, usually starting in July or August and running through October—the time when shippers are bringing in goods for the year-end holidays.

But Ed thinks 2023 will be different as “all indications are that we will not have a very meaningful peak season this year.”

He does concede that “cargo volumes will be stronger in August, September through mid-October versus the past few months,” but he notes that “the market is forecasted to weaken after that until year’s end.”

With a tentative agreement in place between West Coast dockworkers and their employers, many people have high expectations that cargo that had been diverted to East and Gulf Coast ports will soon be returning.

Yet, he says, “the USWC gateway is strategic and you can bet the leadership of both ports—along with the railroads—will be out across America fighting to bring much of the cargo back.”

“I am confident that these ports will be successful like they always have been in the past,” he says, adding that one should “never underestimate” LA/LB.

The Top Ten U.S. Port Results for year over year for June: