Cargo volume remained strong on the East Coast in October, but fell in the West, marking the continuation of a shift that began earlier this year.
The South Carolina Ports Authority handled a record number of containers last month, marking the third busiest month in the port’s history. Total volume was up 9% year-over-year, with the port handling 256,879 twenty-foot equivalent units (TEUs), officials said Tuesday. Imports rose 13% year-over-year, reflecting strong consumer demand.
Port officials also said they managed the higher volumes without any backups.
“Our excellent SC Ports teammates and maritime partners seamlessly handled record cargo volumes in October,” SC Ports President and CEO Barbara Melvin said in a press release. “We have maintained berth availability and terminal capacity since early May, making SC Ports the only major East Coast port without ships waiting to access our terminals.”
The port recently handled three 1,200-foot ships simultaneously at its Wando Welch Terminal—a first for the 40-year-old container terminal, which has been enhanced with big ship capabilities and more cargo capacity as part of recent port upgrades and expansion.
South Carolina Ports also handled 14,365 rail moves at Inland Ports Greer and Dillon, 17,996 vehicles at Columbus Street Terminal, and 24,406 cruise passengers at Union Pier Terminal last month.
It was a different story on the West Coast, where this week officials at the Port of Los Angeles reported a 25% decline in monthly cargo volume for October, handling 678,429 TEUs. The port has processed more than 8.5 million TEUs during the first 10 months of 2022, about 6% down from last year’s record pace. The decline reflects cargo owners’ efforts to bring in products earlier this year, as well as a shift away from the West Coast due to ongoing labor negotiations, according to Port of Los Angeles Executive Director Gene Seroka.
“With cargo owners bringing goods in early this year, our peak season was in June and July instead of September and October,” Seroka said in a press statement. “Additionally, cargo has shifted away from the West Coast as some shippers await the conclusion of labor contract negotiations. We’ll do everything in our power to get that cargo back because the best route between Asia and the United States is straight through the Port of Los Angeles.”
Loaded imports reached 336,307 TEUs in October, down 28% compared to the previous year. Loaded exports came in at 89,722 TEUs, a decline of 8.7% compared to last October. Empty containers landed at 252,401 TEUs, a 25% year-over-year decline, according to port data.
Motion Industries Inc., a Birmingham, Alabama, distributor of maintenance, repair and operation (MRO) replacement parts and industrial technology solutions, has agreed to acquire International Conveyor and Rubber (ICR) for its seventh acquisition of the year, the firms said today.
ICR is a Blairsville, Pennsylvania-based company with 150 employees that offers sales, installation, repair, and maintenance of conveyor belts, as well as engineering and design services for custom solutions.
From its seven locations, ICR serves customers in the sectors of mining and aggregates, power generation, oil and gas, construction, steel, building materials manufacturing, package handling and distribution, wood/pulp/paper, cement and asphalt, recycling and marine terminals. In a statement, Kory Krinock, one of ICR’s owner-operators, said the deal would enhance the company’s services and customer value proposition while also contributing to Motion’s growth.
“ICR is highly complementary to Motion, adding seven strategic locations that expand our reach,” James Howe, president of Motion Industries, said in a release. “ICR introduces new customers and end markets, allowing us to broaden our offerings. We are thrilled to welcome the highly talented ICR employees to the Motion team, including Kory and the other owner-operators, who will continue to play an integral role in the business.”
Terms of the agreement were not disclosed. But the deal marks the latest expansion by Motion Industries, which has been on an acquisition roll during 2024, buying up: hydraulic provider Stoney Creek Hydraulics, industrial products distributor LSI Supply Inc., electrical and automation firm Allied Circuits, automotive supplier Motor Parts & Equipment Corporation (MPEC), and both Perfetto Manufacturing and SER Hydraulics.
The move delivers on its August announcement of a fleet renewal plan that will allow the company to proceed on its path to decarbonization, according to a statement from Anda Cristescu, Head of Chartering & Newbuilding at Maersk.
The first vessels will be delivered in 2028, and the last delivery will take place in 2030, enabling a total capacity to haul 300,000 twenty foot equivalent units (TEU) using lower emissions fuel. The new vessels will be built in sizes from 9,000 to 17,000 TEU each, allowing them to fill various roles and functions within the company’s future network.
In the meantime, the company will also proceed with its plan to charter a range of methanol and liquified gas dual-fuel vessels totaling 500,000 TEU capacity, replacing existing capacity. Maersk has now finalized these charter contracts across several tonnage providers, the company said.
The shipyards now contracted to build the vessels are: Yangzijiang Shipbuilding and New Times Shipbuilding—both in China—and Hanwha Ocean in South Korea.
Specifically, 48% of respondents identified rising tariffs and trade barriers as their top concern, followed by supply chain disruptions at 45% and geopolitical instability at 41%. Moreover, tariffs and trade barriers ranked as the priority issue regardless of company size, as respondents at companies with less than 250 employees, 251-500, 501-1,000, 1,001-50,000 and 50,000+ employees all cited it as the most significant issue they are currently facing.
“Evolving tariffs and trade policies are one of a number of complex issues requiring organizations to build more resilience into their supply chains through compliance, technology and strategic planning,” Jackson Wood, Director, Industry Strategy at Descartes, said in a release. “With the potential for the incoming U.S. administration to impose new and additional tariffs on a wide variety of goods and countries of origin, U.S. importers may need to significantly re-engineer their sourcing strategies to mitigate potentially higher costs.”
The New Hampshire-based cargo terminal orchestration technology vendor Lynxis LLC today said it has acquired Tedivo LLC, a provider of software to visualize and streamline vessel operations at marine terminals.
According to Lynxis, the deal strengthens its digitalization offerings for the global maritime industry, empowering shipping lines and terminal operators to drastically reduce vessel departure delays, mis-stowed containers and unsafe stowage conditions aboard cargo ships.
Terms of the deal were not disclosed.
More specifically, the move will enable key stakeholders to simplify stowage planning, improve data visualization, and optimize vessel operations to reduce costly delays, Lynxis CEO Larry Cuddy Jr. said in a release.
Cowan is a dedicated contract carrier that also provides brokerage, drayage, and warehousing services. The company operates approximately 1,800 trucks and 7,500 trailers across more than 40 locations throughout the Eastern and Mid-Atlantic regions, serving the retail and consumer goods, food and beverage products, industrials, and building materials sectors.
After the deal, Schneider will operate over 8,400 tractors in its dedicated arm – approximately 70% of its total Truckload fleet – cementing its place as one of the largest dedicated providers in the transportation industry, Green Bay, Wisconsin-based Schneider said.
The latest move follows earlier acquisitions by Schneider of the dedicated contract carriers Midwest Logistics Systems and M&M Transport Services LLC in 2023.