Retail container traffic to be up 15% in June
Home Textiles Today Staff -- Home Textiles Today, 6/11/2010 3:02:48 PM
Washington - Import cargo volume at the nation's major retail container ports is expected to increase by 15% this month compared with June 2009, and double-digit increases should continue into the fall as the U.S. economy recovers, said the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
"Cargo import numbers are up but retailers are looking closely at other economic indicators to make sure they are sourcing the appropriate amount of merchandise based on consumer demand," said Jonathan Gold, NRF vp for supply chain and customs policy. "Job creation remains a key factor that's going to affect consumer spending and retail sales."
U.S. ports handled 1.15 million 20-foot-equivalent units in April, the latest month for which actual numbers are available, representing a 7% increase in March and a 16% increase over April 2009.
Additionally, April was also the fifth consecutive month to show a year-over-year improvement after December broke a 28-month streak of year-over-year monthly declines.
May was estimated at 1.16 million TEU - each of which is one 20-foot cargo container or its equivalent. That was a 12% increase over last year as spring products hit store shelves and summer merchandise followed close behind.
June is forecast to remain at 1.16 million TEU but the figure would be up 15% from last year. July is forecast at 1.23 million TEU, up 11% from last year; August at 1.27 million TEU, up 10%; September at 1.31 million TEU, up 15%; and October - traditionally the busiest month of the year - is expected to grow by 12% to 1.34 million TEU.
The strong year-over-year increases are partly due to easy comparisons against unusually low numbers last year.
The first half of 2010 is expected to total 6.6 million TEU, up 12% from the same period last year. Imports for 2009 totaled 12.7 million TEU, down 17% from 2008's 15.2 million TEU and the lowest since the 12.5 million TEU reported in 2003.
"Virtually all of the ocean carriers now seem to accept that there will not be a relapse into a second-dip recession nor an end to the growth," said Ben Hackett, founder of Hackett Associates, adding that many shipping companies have recently restored services and capacity that had been cut back. "Not a day goes by without a new announcement of additional services or re-instatement of services that had been withdrawn."
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