OLYMPIA – The recent Matson Inc. layberth opportunity will not be arriving in May to the Port of Olympia marine terminal.
Mid last week, the Port of Olympia received word from its partner, Matson Inc., that they made a commercial decision to keep its vessel, originally set to layberth at the Port of Olympia, in service for now. Matson will not be laying up its ship at this time.
Several factors likely affected Matson's commercial decision including the increased opportunity in the container trade market, a backload of containers entering the western market as well as shipping rates being high. Much of this container rate increase is a fallout from COVID where trade sporadically stopped and started at different times in different world regions. This caused an imbalance in container availability, especially in China, resulting in a backload of the container supply chain. Additional strain on that container supply and demand came from the recent ship that blocked the Suez Canal. All of this has created high demand for any ships moving containers out of China including the Matson vessel that was expecting to lay up in Olympia in May.
“While we are disappointed, this turn of events is not shocking given the volatility in the market right now,” said Sam Gibboney, Port of Olympia Executive Director. “The international shipping market can change in a matter of days or even hours, and we are still in uncertain times and must be prepared for surprises.”
The Port is still in positive discussions with Matson Inc. for a potential future layberth, but there is no longer an urgency for a prompt docking in May. Matson has expressed their intent to utilize the Port of Olympia in the future, possibly even as soon as fourth quarter of this year.
The MV The Dream, formerly the Evergreen State ferry, was sold at auction in late 2020. The new owner has prepaid the Port for the layberth through June 30, 2021. The ferry will remain at the Port of Olympia’s marine terminal until at least that date.
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