CONTAINER import levels are expected to remain strong in the coming months, according to a new port Tracker report from the National Retail Federation (NRF) and Hackett Associates.
Cargo traffic at major ports in the United States is growing year on year and expected to rise above two million TEU through the summer and fall, according to the monthly Global Port Tracker report.
US ports covered in the report handled 1.93 million TEU in March, the latest month for which final numbers are available. That was down 1.4 per cent from February but up 18.7 per cent from March 2023, when Asian exports were slow after the Lunar New Year shutdowns.
Ports have not yet reported April's numbers, but Global Port Tracker projected the month at 1.96 million TEU, up 10 per cent year on year.
'We haven't seen numbers this high for this many months in almost two years,' said NRF vice president Jonathan Gold. 'The supply chain has adjusted to recent disruptions and retailers will work to keep the flow of goods moving smoothly as the back-to-school and holiday seasons approach.'
May traffic at the ports is forecast at 2.06 million TEU, up 6.8 per cent year on year to tie last October for the highest level since 2.26 million TEU in August 2022. June is forecast at 2.03 million TEU, up 10.7 per cent from the same month last year; July at 2.02 million TEU, up 5.5 per cent; August at 2.1 million TEU, up 7.1 per cent, and September at 2.04 million TEU, up 0.5 per cent.
'Even with a shift in spending from goods to services, US consumers continue to spend on goods,' said Ben Hackett, founder of Hackett Associates, noting a recent downturn in containerised products like furniture, clothing, and electronics.
'We are still seeing a strong volume of goods flowing into ports despite global geopolitical turmoil, high interest rates, and a slowdown in economic growth. There has been a surge of container imports on all three coasts, with the strongest being the Gulf, followed by the Pacific and the east coast. The issue now is whether this surge will continue or level off.'
The first half of 2024 is expected to total 11.9 million TEU, up 13 per cent year on year. Imports during 2023 totaled 22.3 million TEU, down 12.8 per cent from 2022.
The report also anticipates that the first half of 2024 will total 11.9 million TEU, a 13 per cent increase. This is a slight increase from the 11.7 million TEU predicted for the first half in last month's report.
SeaNews Turkey
Cargo traffic at major ports in the United States is growing year on year and expected to rise above two million TEU through the summer and fall, according to the monthly Global Port Tracker report.
US ports covered in the report handled 1.93 million TEU in March, the latest month for which final numbers are available. That was down 1.4 per cent from February but up 18.7 per cent from March 2023, when Asian exports were slow after the Lunar New Year shutdowns.
Ports have not yet reported April's numbers, but Global Port Tracker projected the month at 1.96 million TEU, up 10 per cent year on year.
'We haven't seen numbers this high for this many months in almost two years,' said NRF vice president Jonathan Gold. 'The supply chain has adjusted to recent disruptions and retailers will work to keep the flow of goods moving smoothly as the back-to-school and holiday seasons approach.'
May traffic at the ports is forecast at 2.06 million TEU, up 6.8 per cent year on year to tie last October for the highest level since 2.26 million TEU in August 2022. June is forecast at 2.03 million TEU, up 10.7 per cent from the same month last year; July at 2.02 million TEU, up 5.5 per cent; August at 2.1 million TEU, up 7.1 per cent, and September at 2.04 million TEU, up 0.5 per cent.
'Even with a shift in spending from goods to services, US consumers continue to spend on goods,' said Ben Hackett, founder of Hackett Associates, noting a recent downturn in containerised products like furniture, clothing, and electronics.
'We are still seeing a strong volume of goods flowing into ports despite global geopolitical turmoil, high interest rates, and a slowdown in economic growth. There has been a surge of container imports on all three coasts, with the strongest being the Gulf, followed by the Pacific and the east coast. The issue now is whether this surge will continue or level off.'
The first half of 2024 is expected to total 11.9 million TEU, up 13 per cent year on year. Imports during 2023 totaled 22.3 million TEU, down 12.8 per cent from 2022.
The report also anticipates that the first half of 2024 will total 11.9 million TEU, a 13 per cent increase. This is a slight increase from the 11.7 million TEU predicted for the first half in last month's report.
SeaNews Turkey
