Washington – Month-to-month inbound cargo quantity on the nation’s main container ports ought to persistently be above 2 million Twenty-Foot Equal Models via this summer time and into early fall, in line with the Global Port Tracker report by the National Retail Federation and Hackett Associates.
“We haven’t seen numbers this excessive for this many months in nearly two years,” NRF Vice President for Provide Chain and Customs Coverage Jonathan Gold mentioned. “No matter what headlines concerning the economic system may say, customers are buying and retailers are ensuring they’ve merchandise available to satisfy demand. The provision chain has adjusted to current disruptions and retailers will work to maintain the movement of products shifting easily because the back-to-school and vacation seasons method.”
“No matter what headlines concerning the economic system may say, customers are buying and retailers are ensuring they’ve merchandise available to satisfy demand.” – Jonathan Gold, NRF
“Even with a shift in spending from items to providers, U.S. customers proceed to spend on items,” Hackett Associates Founder Ben Hackett mentioned, noting a current downturn in containerized merchandise like furnishings, clothes and electronics. “We’re nonetheless seeing a powerful quantity of products flowing into ports regardless of international geopolitical turmoil, excessive rates of interest and a slowdown in financial development. There was a surge of container imports on all three coasts, with the strongest being the Gulf, adopted by the Pacific and the East Coast. The difficulty now could be whether or not this surge will proceed or degree off.”
U.S. ports lined by International Port Tracker dealt with 1.93 million TEU – one 20-foot container or its equal – in March, the newest month for which closing numbers can be found. That was down 1.4 p.c from February however up 18.7 p.c from March 2023, when Asian exports had been sluggish after Lunar New Yr shutdowns.
Ports haven’t but reported April’s numbers, however International Port Tracker projected the month at 1.96 million TEU, up 10 p.c 12 months over 12 months. Might is forecast at 2.06 million TEU, up 6.8 p.c 12 months over 12 months to tie final October for the very best degree since 2.26 million TEU in August 2022. June is forecast at 2.03 million TEU, up 10.7 p.c from the identical month final 12 months; July at 2.02 million TEU, up 5.5 p.c; August at 2.1 million TEU, up 7.1 p.c, and September at 2.04 million TEU, up 0.5 p.c.
Month-to-month quantity has reached the two million TEU mark solely twice since a 19-month streak that led to October 2022.
The primary half of 2024 is anticipated to complete 11.9 million TEU, up 13 p.c from the identical interval final 12 months. Imports throughout 2023 totaled 22.3 million TEU, down 12.8 p.c from 2022.
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