Import volume through major US ports is forecast to expand over the next few months and throughout the summer as the country’s economy gets back on its feet and consumer confidence grows.
According to the monthly Global Port Tracker report from the US National Retail Federation (NRF) and Hackett Associates, US import volume is on course to increase by 3.2 per cent this month (April) to 1.25m 20ft equivalent units (TEU), IFW reported.
Imports during March were estimated at 1.19m TEU, up 9.6 per cent on a year ago, with the Port of Los Angeles alone registering a 9.3 per cent increase in its throughput to 324,758 TEU containers.
The report predicts that US ports will handle 1.29m TEU during May, the same as last year; and 1.29m TEU in June, up 3.6 per cent on 2011; before rising further to 1.35m TEU in July, up 1.9 per cent; and 1.42m TEU in August, up 7.4 per cent year on year.
“Retailers are continuing to watch rising fuel prices, but job gains and other indicators show the economy is strengthening,” said NRF’s vice-president for supply chain and customs policy, Jonathan Gold.
“This should improve consumer confidence and lead to increased spending, so retailers are cautiously building up their inventories.”
US ports are predicted to handle around 7.3m TEU during the first half of the year, which would translate into an increase of 2.2 per cent on the same period last year, IFW said.
“Our forecast for the remainder of the year has brought us back to the traditional peak season patterns,” explained Hackett Associates founder Ben Hackett.
“Hopefully the importers and the carriers can work closely together to ensure sufficient capacity and a solid supply chain.”
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