AMERICA's import container volume is expected to surpass two million containers for the first time in seven months, according to the Global Port Tracker report from the National Retail Federation (NRF).
'US imports are continuing to increase despite another disruption impacting us ports,' said NRF vice president Jonathan Gold. 'As retailers have adjusted to limits on the use of the Panama Canal and the Red Sea, we now face the shutdown of the Port of Baltimore to vessel traffic.
'While it is not expected to have a national impact, we are monitoring the situation closely as retailers who are affected adjust their shipping plans to ensure cargo is getting to where it needs to be,' said Mr Gold.
The Port of Baltimore has been closed to vessel traffic since a containership struck a major bridge on March 26, collapsing the span and blocking the only shipping channel into the harbour.
'The Baltimore bridge accident will likely shift container imports and exports to New York/New Jersey, Virginia and other surrounding ports until a shipping channel is cleared, perhaps as soon as within a couple of months,' said Hackett Associates founder Ben Hackett.
Meanwhile, carriers have rerouted around the Red Sea and Suez Canal after attacks on vessels earlier this year while adding additional vessels and increasing vessel speed to make up for longer voyages.
'Doing so has resulted in relatively stable supply chains within a short period of time,' Hackett said. 'A word of caution, however, is that any further pressures on capacity could seriously impact the market.'
US ports covered by Global Port Tracker handled 1.96 million TEU in February, the latest month for which final numbers are available. That was down 0.3 per cent from January but up 26.4 per cent from the same month last year, when many Asian factories were closed for the Lunar New Year holiday.
Ports have not yet reported March's numbers, but Global Port Tracker projected the month at 1.8 million TEU, down 7.8 per cent from February because of Lunar New Year's impact but up 11 per cent year on year. April is forecast at 1.93 million TEU, up 8.4 per cent year on year, and May at 2.04 million, up 5.5 per cent and the highest level since 2.06 million last October. June is forecast at 2 million TEU, up 8.9 per cent; July at 2.04 million TEU, up 6.6 per cent, and August at 2.09 million TEU, up 6.9 per cent.
The first half of 2024 is expected to total 11.7 million TEU, up 11 per cent from the same period last year. Imports during 2023 totalled 22.3 million TEU, down 12.8 per cent from 2022.
Global Port Tracker, which is produced for NRF by Hackett Associates, provides historical data and forecasts for the US 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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'US imports are continuing to increase despite another disruption impacting us ports,' said NRF vice president Jonathan Gold. 'As retailers have adjusted to limits on the use of the Panama Canal and the Red Sea, we now face the shutdown of the Port of Baltimore to vessel traffic.
'While it is not expected to have a national impact, we are monitoring the situation closely as retailers who are affected adjust their shipping plans to ensure cargo is getting to where it needs to be,' said Mr Gold.
The Port of Baltimore has been closed to vessel traffic since a containership struck a major bridge on March 26, collapsing the span and blocking the only shipping channel into the harbour.
'The Baltimore bridge accident will likely shift container imports and exports to New York/New Jersey, Virginia and other surrounding ports until a shipping channel is cleared, perhaps as soon as within a couple of months,' said Hackett Associates founder Ben Hackett.
Meanwhile, carriers have rerouted around the Red Sea and Suez Canal after attacks on vessels earlier this year while adding additional vessels and increasing vessel speed to make up for longer voyages.
'Doing so has resulted in relatively stable supply chains within a short period of time,' Hackett said. 'A word of caution, however, is that any further pressures on capacity could seriously impact the market.'
US ports covered by Global Port Tracker handled 1.96 million TEU in February, the latest month for which final numbers are available. That was down 0.3 per cent from January but up 26.4 per cent from the same month last year, when many Asian factories were closed for the Lunar New Year holiday.
Ports have not yet reported March's numbers, but Global Port Tracker projected the month at 1.8 million TEU, down 7.8 per cent from February because of Lunar New Year's impact but up 11 per cent year on year. April is forecast at 1.93 million TEU, up 8.4 per cent year on year, and May at 2.04 million, up 5.5 per cent and the highest level since 2.06 million last October. June is forecast at 2 million TEU, up 8.9 per cent; July at 2.04 million TEU, up 6.6 per cent, and August at 2.09 million TEU, up 6.9 per cent.
The first half of 2024 is expected to total 11.7 million TEU, up 11 per cent from the same period last year. Imports during 2023 totalled 22.3 million TEU, down 12.8 per cent from 2022.
Global Port Tracker, which is produced for NRF by Hackett Associates, provides historical data and forecasts for the US 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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