WASHINGTON – Inbound cargo quantity on the main U.S. container ports is constant to rise, in response to the latest Global Port Tracker report, regardless of a number of provide chain challenges occurring worldwide.
The report, launched Tuesday by the National Retail Federation and Hackett Associates, mentioned ports are “experiencing the strongest surge in quantity” within the final two years whilst importers deal with high shipping rates and congestion points because of the Red Sea conflicts.
“Lulls between provide chain challenges seldom final lengthy, and importers are presently points together with excessive delivery charges, unresolved port labor negotiations and persevering with capability and congestion points from the continuing disruptions within the Purple Sea,” NRF Vice President for Provide Chain and Customs Coverage Jonathan Gold mentioned. “Regardless of all of that, we’re experiencing the strongest surge in quantity we’ve seen in two years, and that’s a superb signal for what retailers anticipate in gross sales. Shoppers can relaxation assured that retailers might be well-stocked and able to meet demand as we head into the back-to-school and vacation seasons.”
In accordance with the report, U.S. ports dealt with 2.08 million Twenty-Foot Equal Models (TEU) – one 20-foot container or its equal – in Might, the most recent month with last information obtainable. That quantity is up 3 p.c from April and up 7.5 p.c yr over yr. It additionally marked the very best quantity since August 2022 when 2.26 million TEU have been reported (the August 2022 rely included ports in New York and New Jersey that haven’t but reported for Might 2024).
These newest numbers come as assaults on delivery within the Purple Sea this yr have had an affect “past earlier expectations” due to lack of enough capability to make up for longer voyages to keep away from the area, in response to Hackett Associates Founder Ben Hackett.
“The dangers to international commerce development proceed to extend,” Hackett mentioned. “We’re in a risky scenario with a number of pressures on the motion of products, underpinned by continued inflationary pressures.”
Although ports haven’t but reported numbers for June, International Port Tracker presently tasks that quantity rose to 2.1 million TEU, which might be up 14.5 p.c yr over yr. July is forecast at 2.21 million TEU (up 15.5 p.c yr over yr), and August is forecast at 2.22 million TEU (up 13.5 p.c yr over yr).
The primary half of 2024 is anticipated to complete simply over 12 million TEU (12.04 million), which might be up 14.4 p.c from the identical interval final yr. Throughout 2023, imports for the yr totaled 22.3 million TEU.
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