Imports lead U.S. ports volume gains

Import cargo volume at the major U.S. retail container ports is expected to be up 10 percent in May, with double-digit increases expected into this fall as the U.S. economy improves, according to the monthly Global Port Tracker report released Thursday by the National Retail Federation and Hackett Associates.
'Consumers are feeling better about the economy and retailers are building up their inventories to meet that demand,' said Jonathan Gold, NRF vice president for supply chain and customs policy. 'Its easy to show an increase after last year's downturn, but these numbers show us that retailers are confident their sales are going to go up this summer and give us an early hint of optimism about the fall as well.'

Gold

   U.S. ports covered by the tracker handled 1.07 million TEUs in March, the latest month for which actual numbers are available. That was up 7 percent from February, traditionally the slowest month of the year, and up 12 percent from March 2009. It was also the fourth month in a row to show a year-over-year improvement after December broke a 28-month streak of year-over-year monthly declines.
   April was estimated at 1.11 million TEUs, a 12 percent increase over last year as spring products headed for store shelves, the report said. Further monthly forecasts are:
   ' May, 1.14 million TEUs, up 10 percent from last year.
   ' June, 1.19 million TEUs, up 17 percent.
   ' July, 1.25 million TEUs, up 13 percent.
   ' August, 1.32 million TEUs, up 14 percent.
   ' September, 1.35 million TEUs, up 19 percent.
   The large year-over-year percent increases are partly due to easy comparisons against unusually low numbers last year.

Hackett

The first half of 2010 is expected to total 6.6 million TEUs, up 12 percent. Imports for 2009 totaled 12.7 million TEUs, down 17 percent from 2008's 15.2 million TEUs, and the lowest since the 12.5 million TEUs reported in 2003.
'All the indications are that ships remain full and that volumes increased in April and will continue to do so for the next few months,' said Hackett Associates principal Ben Hackett. 'As consumers come warily back and restocking continues, the hesitant recovery will gain strength and stability.'

FreightWaves Staff