US IMPORT container volume at major American ports is expected to slow down this month following record levels seen in September and October, according to the monthly Global Port Tracker from the National Retail Federation (NRF) and Hackett Associates.
"Retailers have done all they can to stock their shelves and build up inventories in case the worst should happen," said NRF vice president Jonathan Gold, referring to the increasingly testy talks with the west coast dockers union.
"We believe it's time for President [Barack] Obama to send in a federal mediator and do what it takes to reach an agreement," he said.
Import volume at big US container ports is expected to total 1.4 million TEU this month, down from 1.59 million TEU each in September and October, a number that broke the previous monthly high of 1.52 million TEU set in August.
Cargo volume has been well above average each month since spring as retailers have imported merchandise early in case of any disruption on the docks, said the federation statement.
The contract between the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU) expired on July 1, prompting concerns about potential disruptions that could affect holiday merchandise.
The lack of a contract and other operational issues have led to crisis-level congestion at the ports in recent weeks, prompting concern of a shutdown.
NRF and more than 100 other business groups last week asked President Obama to send a federal mediator to help with negotiations.
The 1.59 million TEU handled in September, the latest month for which after-the-fact numbers are available, was up 5.2 per cent from August and 10.9 per cent from September 2013.
October was estimated at 1.59 million TEU, within about 3,000 containers of September's level and up 11 per cent from the same month last year. November's forecast of 1.4 million TEU would be up 3.9 per cent from last year, and December is forecast at 1.36 million TEU, up 3.3 per cent.
Those numbers would bring 2014 to a total of 17.3 million TEU, an increase of 6.4 per cent over 2013's 16.2 million. Imports in 2012 totalled 15.8 million. The first half of 2014 totalled 8.3 million TEU, up seven per cent over last year.
January 2015 is forecast at 1.42 million TEU, up 3.1 per cent from January 2014, February at 1.35 million TEU, up 8.4 per cent from last year, and March at 1.33 million TEU, up 2.3 per cent.
The import numbers come as NRF is forecasting 4.1 per cent holiday season sales growth and 3.6 per cent growth for 2014 overall. Cargo volume does not correlate directly with sales but is a barometer of retailers' expectations.
"September was a bumper crop well above even our own expectations," Hackett Associates founder Ben Hackett said. "Despite all the delays, vessels do continue to berth and discharge their cargo."
Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, covers Los Angeles/Long Beach, Oakland, Seattle and Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades and Miami and Houston.
PORTS
11 November 2014 - 22:51
Record setting US west coast box imports expected to trail off
US IMPORT container volume at major American ports is expected to slow down this month following record levels seen in September and October, according to the monthly Global Port Tracker from the National Retail Federation (NRF) and Hackett Associates.
PORTS
11 November 2014 - 22:51
Record setting US west coast box imports expected to trail off
This news 8661 hits received.
These news may also interest you