CARRIERS are avoiding the Red Sea and coping with a surge in shipping prices and delays as the supply chains adjust cope with Houthi missile strikes in the Gulf of Aden.
Retailers continue to work with their partners to mitigate the impact of disruptions from the Red Sea and Panama Canal restrictions, according to the new Global Port Tracker report by the National Retail Federation (NRF) and Hackett Associates.
Inbound cargo volume at the nation's major container ports is on track to show year-on-year increases through the first half of 2024.
'Cargo has been rerouted and goods are arriving where they are needed and in time to meet consumer demand despite the ongoing challenges,' said NRF vice president Jonathan Gold.
'Retailers have been impacted by costs and shipping delays, but they are working to minimise any impact on consumers.'
Carriers are avoiding the Red Sea and the initial surge in shipping prices and delays is subsiding, according to Hackett Associates founder Ben Hackett. Some cargo that previously travelled from Asia via the Red Sea and Suez Canal across the Atlantic to the US east coast is now going around the Cape of Good Hope instead.
There has been an uptick in cargo shipped across the Pacific to the west coast. And some ships are traveling across the Pacific and through the Panama Canal to reach the east coast.
'Despite the shipping disruptions cause by the Houthi in the Red Sea, the global trade of consumer goods, industrial materials and bulk commodities continues to flow relatively smoothly,' Mr Hackett said.
US ports covered by Global Port Tracker handled 1.96 million TEU in January, the latest month for which final numbers are available. That was up 4.7 per cent from December and up 8.6 per cent year on year.
Ports have not yet reported February's numbers, but Global Port Tracker projected the month at 1.9 million TEU, up 22.7 per cent year on year. March is forecast at 1.77 million TEU, up 8.8 per cent from last year.
Global Port Tracker covers the ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the west coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the east coast and Houston on the Gulf Coast.
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Retailers continue to work with their partners to mitigate the impact of disruptions from the Red Sea and Panama Canal restrictions, according to the new Global Port Tracker report by the National Retail Federation (NRF) and Hackett Associates.
Inbound cargo volume at the nation's major container ports is on track to show year-on-year increases through the first half of 2024.
'Cargo has been rerouted and goods are arriving where they are needed and in time to meet consumer demand despite the ongoing challenges,' said NRF vice president Jonathan Gold.
'Retailers have been impacted by costs and shipping delays, but they are working to minimise any impact on consumers.'
Carriers are avoiding the Red Sea and the initial surge in shipping prices and delays is subsiding, according to Hackett Associates founder Ben Hackett. Some cargo that previously travelled from Asia via the Red Sea and Suez Canal across the Atlantic to the US east coast is now going around the Cape of Good Hope instead.
There has been an uptick in cargo shipped across the Pacific to the west coast. And some ships are traveling across the Pacific and through the Panama Canal to reach the east coast.
'Despite the shipping disruptions cause by the Houthi in the Red Sea, the global trade of consumer goods, industrial materials and bulk commodities continues to flow relatively smoothly,' Mr Hackett said.
US ports covered by Global Port Tracker handled 1.96 million TEU in January, the latest month for which final numbers are available. That was up 4.7 per cent from December and up 8.6 per cent year on year.
Ports have not yet reported February's numbers, but Global Port Tracker projected the month at 1.9 million TEU, up 22.7 per cent year on year. March is forecast at 1.77 million TEU, up 8.8 per cent from last year.
Global Port Tracker covers the ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the west coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the east coast and Houston on the Gulf Coast.
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