NRF: U.S. container import volumes make annual climb towards summer levels

Ports covered by the Global Port Tracker handled 1.54 million TEUs in February, a 3.7 percent increase from January, according to the National Retail Federation and Hackett Associates.    Import cargo volumes at major U.S. container ports have begun the annual climb towards summer levels, but are expected to remain flat compared to last year’s record high numbers, according to the monthly Global Port Tracker report by the National Retail Federation (NRF) and Hackett Associates.  
   Ports covered by the Global Port Tracker handled 1.54 million TEUs in February, the latest month for which after-the-fact numbers are available, a 3.7 percent increase from January and a 28.9 percent surge from February 2015.
   The NRF estimates those ports handled 1.35 million TEUs in March 2016, a 22.1 percent year-over-year decline. However, in March 2015, West Coast Ports experienced a surge in traffic due to the backlog of cargo caused by the contract dispute between the International Longshore and Warehouse Union and employers represented by the Pacific Maritime Association.
   Looking ahead, April is forecast at 1.5 million TEUs, a 0.8 percent year-over-year decline; May at 1.58 million TEUs, a 2.1 percent year-over-year decline; June at 1.56 million TEUs, a 0.6 percent year-over-year decline; July at 1.61 million TEUs, a 0.5 percent decline; and August at 1.61 TEUs, a 3.9 percent decline.
   Despite high inventory levels and other mixed economic indicators, overall retail sales in February inched up 0.2 percent month-over-month and 0.6 percent month-over-month when gasoline, automobiles and restaurants are excluded, Hackett Associates Ben Hackett said. “This was not spectacular but still up, suggesting that there is still some steam left in U.S. consumers,” Hackett said.
   Overall, ports covered by the Global Port Tracker are expected to handle 9 million TEUs throughout the first six months of 2016, a 1.8 percent increase from the same period last year.
   Global Port Tracker is produced for the NRF by Hackett Associates and comprises the U.S. ports of Los Angeles, Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades, Miami and Houston.