WASHINGTON – Imports at major U.S. retail container ports during 2020 are expected to see their lowest total in four years as the impact of the coronavirus pandemic on the U.S. economy continues, according to the monthly Global Port Tracker report from National Retail Federation and Hackett Associates.
U.S. ports covered by Global Port Tracker handled 1.61 million twenty-foot-equivalent units in June, the latest month for which after-the-fact numbers are available. That was up 4.9% from May but down 10.5% year-over-year.
“The economy is recovering, but retailers are being careful not to import more than they can sell,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said in a release. “Shelves will be stocked, but this is not the year to be left with warehouses full of unsold merchandise. The more Congress does to put spending money in consumers’ pockets and provide businesses with liquidity, the sooner we can get back to normal.”
July inbound container flow was estimated at 1.76 million TEUs, down 10.2% year-over-year. August is forecast at 1.81 million TEUs, down 7.3%; September at 1.69 million TEUs, down 9.5%; October also at 1.69 million TEUs, down 10.4%; November at 1.59 million TEUs, down 5.8 %, and December at 1.56 million TEUs, down 9.6%.
Those numbers would bring 2020 to a total of 19.6 million TEUs, a drop of 9.4% from last year and the lowest annual total since 19.1 million TEU in 2016. The first half of 2020 totaled 9.5 million TEUs, down 10.1% from last year.
August is expected to be the busiest month of the July-October “peak season” when retailers rush to bring in merchandise for the winter holidays. But with retailers ordering less merchandise, the month’s total would be the lowest peak for the season since 1.73 million TEUs in 2016 and falls far short of the 1.96 million-TEU peak in 2019. Peak season usually includes the busiest month of the entire year, but this year that was likely January’s 1.82 million TEUs.
“This year, peak season seems to have been thrown off by the coronavirus pandemic along with just about everything else we consider normal,” Hackett Associates Founder Ben Hackett said. “We’ve probably already had our busiest month.”
Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, provides historical data and forecasts for the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the East Coast; and Houston on the Gulf Coast.
"port" - Google News
August 11, 2020 at 07:08PM
https://ift.tt/2Dy4NGY
Copy of Port Tracker: Retail imports trending to lowest annual total in 4 years - HFN
"port" - Google News
https://ift.tt/2VXul6u
https://ift.tt/2WmIhpL
No comments:
Post a Comment