The Georgia Ports Authority said a 16% drop in imports year over year “was fueled in part by reduced orders in retail and manufacturing.”

HMM acknowledged that “freight rates in most key trade lanes have been under downward pressure since H1 2022.”

Executive Director Mario Cordero said he is optimistic the Port of Long Beach will recapture market share.

ONE’s profit dropped by 50% quarter over quarter to $2.76 billion.

German ocean shipping company Hapag-Lloyd said its earnings before interest, taxes, depreciation and amortization jumped by $7.6 billion year over year.

“Terminal and infrastructure investments are a crucial element of our strategic agenda and India is one of our key growth markets,” Hapag-Lloyd CEO Rolf Habben Jansen said.

The 9,133,657 twenty-foot equivalent units the Port of Long Beach handled in 2022 were only 2.7% off the record-setting 2021.

“It was a challenging year, but collaborative effort across Georgia’s supply chain ensured cargo movement remained fluid,” Executive Director Griff Lynch said.

The Georgia Ports Authority last month handled 464,883 twenty-foot equivalent units, a decline of 6.2% from the 494,699 TEUs moved in November 2021.

The pilot of the Ever Forward could face civil charges as a result of the vessel being stuck in Maryland’s Chesapeake Bay for more than a month.