$25B worth of cargo stuck on 80 container ships off California

There was fleeting hope that Southern California port congestion had turned the corner. The number of container ships waiting offshore dipped to the low 60s and high 50s from a record high of 73 on Sept. 19, trans-Pacific spot rates plateaued, the Biden administration unveiled aspirations for 24/7 port ops, and electricity shortages curbed Chinese factory output.

The reality is that the port congestion crisis in Southern California is not getting any better.

The time ships are stuck waiting offshore continues to lengthen. There are simply too many vessels arriving with too much cargo for terminals, trucks, trains and warehouses to handle. 

The number of ships at anchor or in holding patterns is once again at record levels. According to the Marine Exchange of Southern California, 80 container ships were waiting off Los Angeles and Long Beach on Sunday, yet another all-time high.