February volumes at Port Houston remained solid compared to last year, though an expected softening of demand is beginning to be seen in Houston, according to the company's release.
A total of 313,452 twenty-foot equivalent units (TEUs), or a 15% increase compared to the same month last year were handled during the month. Year-to-date volumes are up 6% to 633,442 TEUs.
Though Port Houston experienced growth throughout the first two months of 2023, recently its terminals are beginning to see some softening in import demand consistent with the national trend. Sources indicate that high inventory levels and a general decrease in consumer demand are the main factors in this decline, and a general downward trend will likely continue over the next several months which was anticipated and included in the 2023 forecast budget.
Export volumes in Houston remain strong, up 42% this month, driven by the strength of plastic resins and other petrochemical commodities produced in the region and delivered globally through Port Houston.
At Port Houston’s breakbulk facilities, general cargo declined 25% year-to-date, and steel imports declined by 8% year-to-date. Total tonnage through Port Houston is up 7% year to date.
Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient container terminals in the country. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the U.S. largest port for waterborne tonnage.