[Freight Weekly] North American Ports See Record Numbers

🚀North American ports see record numbers🚀

Ports in North America are seeing record volumes as first quarter and monthly reports are published. From the Port of Los Angeles to literally all of Mexico, volumes up and down the continent are high. Here is what you need to know:

• The Port of Los Angeles reported its ninth consecutive month of year-on-year growth, handling 770,337 container units in April of last year, which is a 12 percent increase. LA is once again the busiest port in the USA.

• The neighboring Port of Long Beach saw a 14.4% increase in volumes.

• Port Houston's volumes have increased year-over-year. In April, 324,177 TEUs passed through, a 5 percent rise from April 2023, the year-on-year.

• Ports across Georgia saw record numbers of roll-on/roll-off cargo —80,600 units of autos and heavy equipment, an increase of 44 percent.

• Ports across Mexico moved a record 2.95 million TEUs during the first quarter of this year. That’s an 18.2 percent year-over-year increase.

Bottom line: Several other ports across the continent have similarly reported a strong volume turnout in the first quarter of 2024. Despite some stipulations, this signals a strong flow of imports through the most crucial trade terminals.

CONTEXT: Borderlands Mexico: Mexican ports’ 2024 cargo volumes up 18% through April

💰Norfolk Southern reaches settlement in East Palestine derailment 💰

Class I rail operator Norfolk Southern has reached a settlement with the U.S. federal government. The settlement was agreed by the EPA and Justice Dept:

• A total of $310 million was settled in the agreement, the Environmental Protection Agency and the U.S. Department of Justice said in a presser.

• Norfolk Southern will pay $15 mil in a civil penalty, $25 mil to fund local health programs, $30 mil for environmental recovery monitoring, $6 mil for waterways remediation, and $175,000 in natural resources recovery.

• $235 mil will be “for all past and future costs, so that cleanup efforts can continue and the company, rather than taxpayers, covers the cost.”

• “No community should have to experience the trauma inflicted upon the residents of East Palestine,” said EPA Administrator Michael S. Regan.

• Norfolk reached a $600 mil settlement with local residents in April 2024.

Bottom line: Enforcement against Norfolk is ongoing in Ohio and Pennsylvania. So far, Norfolk has been on the hook for nearly $1 billion since the 2023 incident.

#TBT: Derailment costs grow for Norfolk Southern…

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📰  WHAT ELSE IS GOING ON IN FREIGHT

❄️Red Sea crisis, climate change boosting Arctic shipping: GCaptain reports that the ongoing crisis in the Red Sea and challenges of climate change are now boosting shipping volumes through Russia’s Northern Sea Route. Read more…

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