Import cargo volume at the nation’s major retail container ports is forecast to level off this month at about the same numbers as last year after nearly 18 months of year-over-year gains, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
“After nearly a year and a half of volume increases, it’s not surprising to see some leveling off,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Retailers are being cautious with how much merchandise they import due to economic pressures such as higher commodity prices, but overall consumer demand remains strong.”
U.S. ports followed by Global Port Tracker handled 1.08 million Twenty-foot Equivalent Units (TEUs) in March, a gain of only 0.3 percent over the same month a year ago. The number was down 2 percent from February, traditionally the slowest month of the year. While the increase was small, it was the 16th month in a row to show a year-over-year improvement after December 2009 broke a 28-month streak of year-over-year declines. One TEU is one 20-foot cargo container or its equivalent.
The first half of 2011 is forecast at 7.1 million TEU, up 4 percent from the first half of 2010. Global Port Tracker forecasts only six months beyond actual numbers, so a forecast for the full year is not yet available. Imports during 2010 totaled 14.7 million TEU, a 16 percent increase over 2009.