Strong Growth in Merchandise Imports to Resume in Fall

MarineLink.com
Tuesday, July 09, 2013

Import volume at the nation’s major retail container ports is expected to increase a modest 1.1% in July over the same month last year but a slow summer should be followed by significant increases as retailers head into the holiday season this fall, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“With the economy recovering slowly, retailers have been cautious with imports this summer but it’s clear that they expect an upturn later in the year,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Import numbers have been close to flat since spring, but we expect to see stronger increases this fall.”

Cargo import numbers do not correlate directly with retail sales or employment because they count only the number of cargo containers brought into the country, not the value of the merchandise inside them. But the amount of merchandise imported nonetheless provides a rough barometer of retailers’ expectations.

U.S. ports followed by Global Port Tracker handled 1.38 million Twenty-foot Equivalent Units in May, the latest month for which after-the-fact numbers are available. That was up 1.2% from April but only 0.6% from May 2012. One TEU is one 20-foot cargo container or its equivalent.

June was estimated at 1.37 million TEU, down 0.7% from a year ago. July is forecast at 1.43 million TEU, up 1.1% from last year; August at 1.45 million TEU, up 1.7%; September at 1.44 million TEU, up 2.4%; October at 1.46 million TEU, up 9.1%; and November at 1.38 million TEU, up 7.3%.

The first six months of 2013 totaled an estimated 7.8 million TEU, up 1.2% from the first half of 2012. The total for 2012 was 15.8 million TEU, up 2.9% from 2011.

Despite the projected increase in imports, Hackett Associates Founder Ben Hackett said actual results will hinge on consumer confidence.

“Consumer sales remain relatively weak compared with GDP,” Hackett said. “If consumers do not turn their confidence into purchases, then import volumes will drop.”

globalporttracker.com

nrf.com
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Indiana Ports Sets Cargo Record in 2015

State's three ports handle 12 million tons for first time in 54-year history  INDIANAPOLIS (Feb. 11, 2016) - The Ports of Indiana handled over 12.2 million tons of cargo in 2015,

DP World Bolsters Investment in India

DP World Pvt. Ltd, the world’s fourth biggest container port operator majority owned by the Dubai government, has plans to invest over $1 billion in India for augmenting its port-related operations.

Owner Fined for 'Dangerously Unsafe' Vessel

The owner of a harbor tanker has been fined £3,000 with more than £7,000 costs after pleading guilty to a charge of operating a vessel for being dangerously unsafe.

News

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

N.E. Fishermen Warned of Extreme Cold, Wind Chills

The Coast Guard is urging the Massachusetts and Rhode Island fishing fleet to take caution heading into the weekend when life threatening temperatures and wind chills are forecasted.

Hapag-Lloyd Enhances Conosur Service

Hapag-Lloyd has informed about its service enhancements on the Conosur Service (South America West Coast to South America East Coast). This is being upgraded by

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction
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: 0.0748 sec (13 req/sec)