US ports global trade hub but Europe, Asia control shipping industry

US ports play a vital role as a global trade hub, but it directly owns only a few of the ships that power the world’s maritime logistics network. Major ports such as Los Angeles, Long Beach, New York/New Jersey and Savannah are among the busiest globally in terms of throughput. However, the US merchant fleet handles less than 5% of its own international container trade. Domestic shipping routes are served by a small number of Jones Act-compliant vessels that do not participate in the global fleet. On the other hand, the global container shipping industry is increasingly concentrated in the hands of a few large companies—almost all of which are headquartered in Europe or Asia. The top ten container shipping companies now control over 85% of global container capacity, measured in twenty-foot equivalent units (TEUs), according to data compiled by LeghornGroup and shipping analytics firm Alphaliner, as reported.

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