U.S. ports are experiencing remarkable growth, with the ten largest ports recording a 14.2% year-over-year increase in inbound container volumes for December 2024. This marks the fifteenth consecutive month of growth, as reported by shipping expert John McCown. Notably, this surge follows years of declining numbers due to the pandemic’s earlier impacts. The statistic highlights the resilience of the U.S. economy as it adapts to post-pandemic challenges.
According to McCown’s latest analysis, inbound container volumes grew by 15.2% over 2023, representing the second-highest annual increase on record, only surpassed by the 17.5% rise seen back in 2021. Comparing December 2024 volumes to those from December 2019 shows a significant increase of 24.2%, showcasing a compound annual growth rate (CAGR) of 4.4% over five years—significantly higher than the historical 3.8% CAGR recorded from 2010 to 2020. "This sustained surge follows 15 straight months of double-digit declines compared to the pandemic-driven volume spikes," McCown notes.
While inbound traffic surged, outbound growth told another story; December marked the decline of outbound container volumes after two months of gains. This inconsistency highlights the continuing imbalance prevailing across U.S. maritime trade, which has raised concerns among stakeholders.
Shifting focus to Europe, the Port of Gothenburg encountered slight fluctuations, handling fewer containers than the previous year. Specifically, container volumes fell by just under 1% from 914,000 TEU to 909,000 TEU. Claes Sundmark, Vice President of Sales and Marketing at the Port of Gothenburg, commented on this decrease but noted increased import volumes, which spiked nearly 15% compared to 2023. Sundmark emphasized, "Primarily, we see imports have increased significantly during the year, and this is a trend we expect to continue..." This transition reflects the changing dynamics within the Swedish port, where exports saw a slight downturn and broader market tensions continue to shape operational standards.
Rail transport from Gothenburg also saw growth, showing collaborative efforts to maintain the port's regional importance. The number of containers transported by rail expanded by 7%, with the region seeing over 500,000 containers handled by this mode of transport annually. This solidifies rail's role as the dominant transport mechanism for hinterland connectivity.
On the opposite end of the Baltic Sea, the Port of Klaipėda made headlines by closing out 2024 with record cargo handling figures. This Lithuanian port secured market share among Baltic ports reaching 39%, attributing this success to construction materials and minerals, which nearly doubled, riding high on the wave of active infrastructural projects. This year, Klaipėda reported handling 1,068,771 TEU, marking a 2% increase from 2023. The increase can be attributed to effective supply chain maneuvers and strategic import initiatives.
Further solidifying its cargo handling prowess, Klaipėda has positioned itself to address the demands of construction growth, with 93% of materials imported from Scandinavian countries. These strategic moves have created opportunities for Klaipėda, solidifying its competitive edge among regional ports.
Meanwhile, HOPA Ports recorded impressive numbers as well, reporting handling 11.46 million tonnes of cargo through its network across Hamilton, Oshawa, and the Thorold Multimodal Hub. Overall, this marked steady growth, up from 11.29 million tonnes processed last year. HOPA Ports continues to capture 31% of volume transported via the Great Lakes-St. Lawrence Seaway System, showcasing its significant regional influence.
Significantly, HOPA’s cargo mix is heavily influenced by agri-food and steel sectors. Agri-food commodities totaled 3.42 million tonnes, marking 31% of total volume, largely due to recent infrastructure investments. HOPA President Ian Hamilton noted, "We may be heading to 2025 under a cloud of uncertainty, but we believe we are taking the right steps to strengthen our resilience." Here, the emphasis on infrastructure enhancements underlines HOPA’s commitment to bolstering its economic relationships globally, particularly with European markets.
Looking forward, the port authorities collectively project continued growth, albeit at more measured rates. McCown anticipates long-term annual container volume growth to stabilize at around 2.7%. Despite being lower than historical rates, this steady growth presents significant opportunities for efficient port planning. The combination of strong inbound activity at U.S. ports, resilient trends at European ports, and the operational stability seen at HOPA underlines the enduring importance of port activity amid global supply chain developments.
Across the seas, the port industry appears to be reconfiguring post-pandemic—marked by recovery as well as adaptation. Such dynamics continue to prompt discussions about trade efficiency, cargo management, and logistics advancements as stakeholders navigate the new normal.