The port of Long Beach in California is not expecting a repeat of the robust voumes it experienced in 2018, according to its seasonal estimate.
The port's annual Pulse of the Ports forecast, which drew some 500 people to the Renaissance Long Beach Hotel, predicted that a slowing domestic economy would likely lead to a moderate uptick in container imports through 2019.
North American imports were projected to grow a modest 1.8 per cent in 2019, demonstrating a 'significant slowdown' from the 6.1 per cent increase reported for US imports last year, according to Melissa Peralta, senior economist and forecaster for TTX.
Imports would be further impacted during the second half of the year in response to a sluggish US economy as the initial effects of the federal Tax Cuts and Jobs Act of 2017 start to fade, Peralta added.
Meanwhile, while Asian imports have steadily climbed over the past decade at East Coast ports, Peralta said that increased costs associated with new fuel regulations could drive shippers back to shorter routes leading to West Coast ports.
