Inventory Cuts to Shrink Port Traffic 6%
By Staff -- Home Textiles Today, 9/14/2008 12:00:00 AM
Cargo volume at the nation's major retail container ports is now expected to decline 6% in 2008 compared with 2007, as merchants exert caution on inventory, according to the Port Tracker report for August.
Released by the National Retail Federation and researcher Global Insight last week, the report shows projected volume of total 15.5 million twenty-foot-equivalent units (TEUs) for the year. The prior projection was 15.8 million TEUs.
In 2007 the ports received 16.5 million TEUs.
"Retailers are tightening up their inventories to reflect what they expect to be able to sell during the holiday season," NRF vp for supply chain and customs policy Jonathan Gold said.
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