US ports handle 2.4 mn TEUs in May, up by 6% from Apr, 2.7% YoY: NRF
10 Jul 22 2 min read
Ports have not yet reported June numbers, but the Tracker projected the month at 2.25 million TEU, up by 4.8 per cent from the same month last year. That would bring the first half of the year to 13.5 million TEU, a 5.4 per cent increase year over year.
Imports set another record high this spring as the nation’s major container ports worked to reduce congestion and retailers stocked up before dockworkers’ West Coast labor contract expired.
The contract between the International Longshore and Warehouse Union and the Pacific Maritime Association expired July 1, but cargo operations are continuing. NRF and more than 150 groups wrote to President Joe Biden last week asking the administration to work with both sides to avoid disruption.
- NRF calls on US Fed to lower debit card swipe fees
- Australia’s baby wear imports drop significantly in Jan-Feb 2024
- Uniqlo’s sister brand GU expands to US with flagship store in New York
- Global supply chains now in Goldilocks Zone: GEP Consulting tracker
- Trans-Pacific air cargo market set for busier summer: Xeneta
- Revenue of American firm Allbirds’ at $39.3 mn in Q1 FY24
“Cargo volume is expected to remain high as we head into the peak shipping season, and it is essential that all ports continue to operate with minimal disruption,” NRF vice president for supply chain and customs policy Jonathan Gold said in a release.
“Supply chain challenges will continue throughout the remainder of the year, and it is particularly important that labour and management at West Coast ports remain at the bargaining table and reach an agreement,” he said.
Ports saw a surge in activity this spring as a slowdown in cargo from Chinese factories closed by COVID-19 gave them a chance to clear built-up congestion. Retailers bringing in seasonal merchandise and importing other goods early to avoid any problems related to the contract negotiations may have also contributed to volume.
July is forecast at 2.31 million TEU—up by 5.3 per cent from last year, and would be the fourth-busiest month on record. August is forecast at 2.26 million TEU, down by 0.5 per cent year over year.
Fibre2Fashion News Desk (DS)
Popular News
|
Cotton yarn prices decline in south India, uncertainty prevails |
|
Rising imports from China: A growing concern for Indian industries |
|
North India's cotton yarn market faces sluggish demand |
|
Drewry's World Container Index up 16%, Red Sea crisis raises freight |
|
Cotton yarn prices down in Delhi, sentiments weak in north India |
|
ADB & Citi partner to boost SME Trade finance across Asia-Pacific |