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2-digit import growth at US retail ports slips to single digits: NRF
11 Sep '21
2 min read
Pic: Shutterstock
Double-digit growth in imports at large US retail container ports is slipping to single digits as pandemic-related supply chain disruptions around the world continue, according to the monthly Global Port Tracker report released recently by the National Retail Federation (NRF) and Hackett Associates.
US ports covered by the tracker handled 12.8 million twenty-foot equivalent units (TEU) in the first half of 2021, which was up by 35.6 per cent from the same period last year.
US ports covered by the tracker handled 2.19 million TEU in July, the latest month for which final numbers are available. That was up by 2 per cent from June and higher by 14.2 per cent from a year earlier.
Ports have not reported August numbers yet, but the tracker projected the month at 2.27 million TEU, which would be up 7.8 per cent year over year.
“Year-over-year growth isn’t as dramatic as it was earlier because we’re now comparing against months when most stores closed by the pandemic last year had reopened and retailers were stocking up again,” NRF vice president for supply chain and customs policy Jonathan Gold said in a statement.
“We expected that. But we’re seeing issues ranging from port closures in Asia to ships lined up waiting to dock at U.S. ports. That’s creating continuing challenges as retailers work to supply enough inventory to meet demand. The administration’s recent appointment of a supply chain task force and a port envoy are major steps forward, and we look forward to working with officials to find solutions,” he added.
“Supply chain logistics management is facing acute problems as disruptions make it difficult for both importers and exporters to transact their business,” Hackett Associates founder Ben Hackett said.
“We are facing shortages in all sectors of the chain: a lack of sufficient shipping capacity, which leads to increases in the cost of shipment; lack of warehousing; lack of truck and rail capacity, and a shortage of labor across the board,” he added.
September is forecast at 2.21 million TEU, which would be up 5.1 per cent year on year; October at 2.19 million TEU, down 1.3 per cent for the first year-on-year decline since July 2020; November at 2.13 million TEU, up by 1.4 per cent, and December at 2.07 million TEU, down by 1.8 per cent.
US ports covered by the tracker handled 12.8 million twenty-foot equivalent units (TEU) in the first half of 2021, which was up by 35.6 per cent from the same period last year.
US ports covered by the tracker handled 2.19 million TEU in July, the latest month for which final numbers are available. That was up by 2 per cent from June and higher by 14.2 per cent from a year earlier.
Ports have not reported August numbers yet, but the tracker projected the month at 2.27 million TEU, which would be up 7.8 per cent year over year.
“Year-over-year growth isn’t as dramatic as it was earlier because we’re now comparing against months when most stores closed by the pandemic last year had reopened and retailers were stocking up again,” NRF vice president for supply chain and customs policy Jonathan Gold said in a statement.
“We expected that. But we’re seeing issues ranging from port closures in Asia to ships lined up waiting to dock at U.S. ports. That’s creating continuing challenges as retailers work to supply enough inventory to meet demand. The administration’s recent appointment of a supply chain task force and a port envoy are major steps forward, and we look forward to working with officials to find solutions,” he added.
“Supply chain logistics management is facing acute problems as disruptions make it difficult for both importers and exporters to transact their business,” Hackett Associates founder Ben Hackett said.
“We are facing shortages in all sectors of the chain: a lack of sufficient shipping capacity, which leads to increases in the cost of shipment; lack of warehousing; lack of truck and rail capacity, and a shortage of labor across the board,” he added.
September is forecast at 2.21 million TEU, which would be up 5.1 per cent year on year; October at 2.19 million TEU, down 1.3 per cent for the first year-on-year decline since July 2020; November at 2.13 million TEU, up by 1.4 per cent, and December at 2.07 million TEU, down by 1.8 per cent.
Fibre2Fashion News Desk (DS)
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