NRF: U.S. container import volumes to peak in August

Major container ports in the United States handled 1.63 million TEUs in June 2016, down 2.8 percent from May and 0.5 percent from June 2015, according to the monthly Global Port Tracker report by the National Retail Federation and Hackett Associates.    Major container ports in the United States should see significant boost in import cargo volumes in August as retailers have stocked up for back-to-school and are already getting a head start on holiday season merchandise, 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 1.63 million TEUs in June 2016, the latest month for which after-the-fact numbers are available, down 2.8 percent from May and 0.5 percent from June 2015.
   Looking ahead to the remainder of the year, July volumes are forecast at 1.64 million TEUs, up 1.5 percent year-over-year; August at 1.68 million TEUs, down 0.3 percent; September at 1.61 million TEUs, down 0.6 percent; October at 1.63 million TEUs, up 4.9 percent; November at 1.52 million TEUs, up 2.9 percent; and December at 1.47 million TEU, up 2.5 percent.
   Total volumes in the first half of 2016 reached 8.98 million TEUs, a 1.4 percent increase compared with the first six months of 2015.
   For the full year in 2016, volumes are expected to increase 1.7 percent to 18.5 million TEUs from the previous year.
   “Shoppers are right in the middle of buying back-to-school products but the retail supply chain is already preparing for the holiday season,” said NRF Vice President for Supply Chain and Customs Policy Jonathan Gold. “August is the peak month of the annual shipping season that builds up to the winter holidays, and a lot of the merchandise consumers will be buying this fall is already showing up at the docks.”
   Hackett Associates Founder Ben Hackett noted that much of the recent upturn in the U.S. economy is attributable to consumers. He said the 5.1 percent year-over-year increase in June retail sales was nearly twice the 2.6 percent increase in average hourly wages seen the same month.
   “In these stressed times with uncertainty abounding amid an unusual presidential election and other issues, consumers have decided it is time to hit the stores and stock up on goods,” said Hackett.
   Global Port Tracker, which is produced by Hackett Associates for the NRF, covers 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.