March US retail import box traffic expected to rise 10pc, says Port Tracker
2012 03 14
- Details
US IMPORT cargo volume through major ports is expected to increase 10 per cent in March year on year and trend that should continue, according to the Global Port Tracker report from the National Retail Federation NRF), which say American retail sales will grow 3.4 per cent to $2.53 trillion this year.
"There are enough signs of improvement that stores are stocking up," said federation vice president Jonathan Gold. "Retailers only import more if they expect to sell more, so optimism is growing."
US ports surveyed handled 1.22 million TEU in January, the latest month for which after-the-fact numbers are available, said Hackett Associates, which prepares the monthly report. That was up 4.4 per cent from December and 1.3 per cent from January 2011.
February, the slowest month of the year, was estimated at 1.05 million TEU, down 4.2 per cent from a year ago, and March is forecast at 1.2 million TEU, up 10 per cent from last year. April is forecast at 1.26 million TEU, up 3.6 per cent; May at 1.28 million TEU, the same as last year; June at 1.3 million TEU, up 4.2 per cent; and July at 1.36 million TEU, up 2.8 per cent.
The total for 2011 was 14.8 million TEU, up 0.4 per cent from 2010's 14.75 million TEU. The first half of 2012 should total 7.32 million TEU, up 2.4 per cent from the same period last year.
"Despite the increases, shipowners have more vessels in service than cargo to fill them and are experimenting with "rate restoration" strategies that could impact retailers and other shippers," said Hackett Associates founder Ben Hackett.
"The maritime industry is in a quandary," Mr Hackett said. "As long as this imbalance exists, there will be volatility in the freight rates."
Global Port Tracker covers the US ports of Long Angeles, Long Beach, Oakland, Seattle, Tacoma, New York, New Jersey, Hampton Roads, Charleston, Savannah and Houston.
Source Shipping Gazette - Daily Shipping News
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