NW Seaport Alliance's February volume falls 4pc to 269,199 TEU
THE Northwest Seaport Alliance's February container volumes dropped by 4
THE Northwest Seaport Alliance's February container volumes dropped by 4.1 per cent to 269,199 TEU, although, the year-to-date container figures are up 10.9 per cent, with imports and exports expanding 10.1 per cent and 13.4 per cent respectively.
As expected, import volumes in February were impacted by the timing of the Lunar New Year, resulting in shippers advancing orders ahead of the normal factory closures in Asia during the holiday in February. Several port call omissions similarly impacted import volumes.
Furthermore, February volumes showed two tariff-related shifts. After five straight months of import growth from retailers front-loading cargo to beat future tariff increases, imports are levelling off as retailers draw down this inventory. Soft export volumes, especially to China, also reflect the ongoing impacts from tariffs, reported Maritime Logistics Professional, Florida.
Total domestic volumes for February rose 1.1 per cent to 47,590 TEU compared to February 2018, marking the second month of growth for domestic cargo. Alaska's year-to-date volumes rose by 7.7 per cent after an unusually strong January. Hawaii volumes through the Pacific Northwest were up 2.5 per cent for 2019.