MAJOR retail container ports in the US have suffered volume dips since the US-China trade row triggered peaks last autumn. However, box volumes remain at higher-than-usual levels as possible tariff hikes loom in March, according to the monthly Global Port Tracker report published by the National Retail Federation and Hackett Associates.
'With trade talks with China still unresolved, retailers appear to be bringing spring merchandise into the country early in case tariffs go up in March,' NRF vice president for supply chain Jonathan Gold said.
'We are hopeful that the talks will succeed but until the trade war is behind us, retailers need to do what they can to mitigate the higher prices that will inevitably come with tariffs.'
US tariffs of 10 per cent on US$200 billion worth of Chinese goods that took effect last September are threatened to rise to 25 per cent on March 1 unless negotiations that started in December bear fruit.
US ports covered by Global Port Tracker handled 1.97 million TEU in December, up 8.8 per cent from November and 13.9 per cent year on year. That brought 2018 to a record 21.8 million TEU, an increase of 6.2 per cent over 2017's previous record of 20.5 million TEU, reported American Shipper.
January was estimated at 1.83 million TEU, up 4.1 per cent from January 2018. February is forecast at 1.78 million TEU, up 5.7 per cent; and March at 1.6 million TEU, up 3.8 per cent.
'US containerised imports continue to be robust with retailers and other businesses trying to beat potential tariff increases in March,' Hackett Associates founder Ben Hackett said. 'The problem is that warehouses and storage facilities are running out of space.'
WORLD SHIPPING
'With trade talks with China still unresolved, retailers appear to be bringing spring merchandise into the country early in case tariffs go up in March,' NRF vice president for supply chain Jonathan Gold said.
'We are hopeful that the talks will succeed but until the trade war is behind us, retailers need to do what they can to mitigate the higher prices that will inevitably come with tariffs.'
US tariffs of 10 per cent on US$200 billion worth of Chinese goods that took effect last September are threatened to rise to 25 per cent on March 1 unless negotiations that started in December bear fruit.
US ports covered by Global Port Tracker handled 1.97 million TEU in December, up 8.8 per cent from November and 13.9 per cent year on year. That brought 2018 to a record 21.8 million TEU, an increase of 6.2 per cent over 2017's previous record of 20.5 million TEU, reported American Shipper.
January was estimated at 1.83 million TEU, up 4.1 per cent from January 2018. February is forecast at 1.78 million TEU, up 5.7 per cent; and March at 1.6 million TEU, up 3.8 per cent.
'US containerised imports continue to be robust with retailers and other businesses trying to beat potential tariff increases in March,' Hackett Associates founder Ben Hackett said. 'The problem is that warehouses and storage facilities are running out of space.'
WORLD SHIPPING