U.S. Port activity currently third highest on record despite slow start to year
- Acceleration of port activity across the United States persists despite economic concerns, as reshoring and nearshoring strategies continue to focus away from economies of scale and toward diversification.
- Led by reshoring and an elevated focus on diversification, supply chain strategies begun in 2016 are now well into their execution, largely benefiting U.S. Eastern Ports which have surged from 50.4% of all activity in 2010 to 59.6% of all activity through October 2023.
- Mexico’s two largest ports also contribute close to 5 million TEUs (twenty-foot equivalent units) to North American volumes, offering supply chains ever more options.
December 14, 2023