RENO, Nev., Jan. 21, 2025 (GLOBE NEWSWIRE) -- ITS Logistics today released the January forecast for the ITS Logistics US Port/Rail Ramp Freight Index. This month, the index reveals that overall, operations throughout North American ports and ramps are running relatively smoothly and are expected to remain so through the month, with the exception of the Port of Vancouver. In addition, per the recent incoming Trump Administration announcements, there will also be a 25% increase in tariffs for Canada and Mexico, which are expected to occur as soon as February 1.
“Vancouver is still clearing a 3-week backlog of containers that are awaiting rail transit,” said Paul Brashier, Vice President of Global Supply Chain for ITS Logistics. “The Lunar New Year rush, a November port strike that has now come to an end, and lack of rail equipment are contributing to the Vancouver terminal challenges. US West Coast port and rail ramp operations will remain at an elevated status, and there are still concerns that there may be an increase in transpacific inventory front-loading throughout the month. This is in addition to Western Canada port and rail issues.”
According to operators, the Port of Vancouver is on course to clear congestion by next month, but this plan could change because of the swift action from the newly appointed Trump Administration to enforce tariffs. Due to the uncertainty of what these tariff increases could mean for the industry and overall economy, retailers have continued to front-load their imports, as noted by the National Retail Federation (NRF). The previously expected East Coast port strike also played a role in companies choosing to increase volume.
The Global Port Tracker reported an increase in volumes this fall, confirming that November’s container imports increased by 14.7% over a year earlier while being slightly down from October (3%). As a result of the official November TEU volume consisting of 2.17 million containers (excluding finalized numbers from the Port of New York and New Jersey) and projected December volume being over its forecast by 19%, equating to 2.24 million TEU, the NRF raised its forecast for the full year 2024. Due to the ongoing rush, the NRF expected the year to total 25.6 million TEU, with the momentum lasting through the first part of 2025. Overall, the NRF is calling for a 10% year-over-year (YOY) increase in January and March. On the contrary, February is expected to fall on the softer side because of the Lunar New Year timing this year.
“Shippers should prepare for the potential of a front-loading event similar to 2018, impacting transpacific trade lanes from Asia into North America—regardless of origin—as front-loading bottlenecks at the same entry point ports,” continued Brashier. “Industry professionals should also expect exports to be negatively impacted as well due to equipment imbalance and these possible retaliatory tariffs.”
ITS Logistics offers a full suite of network transportation solutions across North America and distribution and fulfillment services to 95% of the U.S. population within two days. These services include drayage and intermodal in 22 coastal ports and 30 rail ramps, a full suite of asset and asset-lite transportation solutions, omnichannel distribution and fulfillment, LTL, and outbound small parcel.
The ITS Logistics US Port/Rail Ramp Freight Index forecasts port container and dray operations for the Pacific, Atlantic, and Gulf regions. Ocean and domestic container rail ramp operations are also highlighted in the index for both the West Inland and East Inland regions. Visit here for a full comprehensive copy of the index with expected forecasts for the US port and rail ramps.
About ITS Logistics
ITS Logistics is one of North America's fastest-growing, asset-based modern 3PLs, providing solutions for the industry’s most complicated supply chain challenges. With a people-first culture committed to excellence, the company relentlessly strives to deliver unmatched value through best-in-class service, expertise, and innovation. The ITS Logistics portfolio features North America's #19 asset-lite freight brokerage, the #12 drayage and intermodal solution, a top 50 dedicated fleet, an innovative cloud-based technology ecosystem, and a nationwide distribution and fulfillment network.
Media Contact
Amber Good
LeadCoverage
amber@leadcoverage.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/02010ea0-8a6e-4630-b018-145ef961ceb3
