Retail Imports to Increase 2.3 Percent in March

Press Release
Monday, March 11, 2013

 Import cargo volume at the nation’s major retail container ports is expected to increase 2.3 percent in March over the same month last year despite federal spending cuts that could slow down cargo processing, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.


“Retailers are aware of the impact of the cuts on Customs operations at the ports and are working to plan accordingly so the impact on merchandise headed for the store shelves is minimized,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “This is a situation the industry is monitoring very closely.”


Homeland Security Secretary Janet Napolitano warned recently that federal spending cuts under the “sequestration” that took effect March 1 would result in port staffing cutbacks that could cause Customs inspections of cargo containers to take as long as five days.  The ports will be impacted by immediate cuts to overtime pay and then furloughs in mid-April.


U.S. ports followed by Global Port Tracker handled 1.33 million Twenty-foot Equivalent Units in January, the latest month for which after-the-fact numbers are available. That was up 0.9 percent from December and 3.7 percent from January 2012. One TEU is one 20-foot cargo container or its equivalent.


February, historically the slowest month of the year, was estimated at 1.16 million TEU, up 6.8 percent from a year ago. March is forecast at 1.27 million TEU, up 2.3 percent from last year; April at 1.35 million TEU, up 3.5 percent; May at 1.44 million TEU, up 5.5 percent; June also at 1.44 million TEU, up 4.2 percent, and July at 1.46 million TEU, up 3.2 percent.


The first six months of 2013 are expected to total 8 million TEU, up 4.3 percent from the first half of 2012. The total for 2012 was 15.8 million TEU, up 2.9 percent from 2011.


“At the port level there may well be a slowdown in customs clearance but trade will continue to flow,” Hackett Associates Founder Ben Hackett said, referring to the sequestration impact. “It may cause terminal congestion if the backlog builds up, and that needs to be planned for in advance.”

 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

China Shipbuilders may Merge to Stay Afloat

The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

Seaspan Takes Delivery of New Containership

Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

News

China Shipbuilders may Merge to Stay Afloat

The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

Termination of Seadrill Unit's and Rosneft Deal Extended

North Atlantic Drilling (NADL), a subsidiary of Seadrill, will delay the closing of a deal with Russia's Rosneft by two years and has agreed to renegotiate the terms of the agreement,

Taiwan's Yang Ming Marine to Add Bigger Vessels to its Fleet

Yang Ming Marine Transport Corporation, Taiwnanese global shipping and logistics services company,  will take delivery of 14 large-sized ships over the next two years,

Government Update

USN Names Littoral Combat Ship

Secretary of the Navy Ray Mabus announced today that the next Freedom-variant littoral combat ship (LCS) will be named USS St. Louis. The future USS St. Louis,

China Snubs G7 Declaration on Sea Row

Reacting to recent declaration of  the Group of Seven (G7) major nations' Foreign Ministers on maritime , China said “the situation of this region is generally stable,

Newport News Shipbuilding Hosts Sen. Inhofe

Huntington Ingalls Industries (HII) today hosted Sen. James M. Inhofe, R-Okla., for a tour of the company's Newport News Shipbuilding division.   The senator,

Logistics

Greek Capesize and Maersk Boxship Mishap in Suez Canal

The Danish container ship Susan Maersk has collided with the container ship Margret Oldendorff flying the Libyan flag.   The 347 meter long, 110387 dwt container

China Shipbuilders may Merge to Stay Afloat

The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

Termination of Seadrill Unit's and Rosneft Deal Extended

North Atlantic Drilling (NADL), a subsidiary of Seadrill, will delay the closing of a deal with Russia's Rosneft by two years and has agreed to renegotiate the terms of the agreement,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1652 sec (6 req/sec)