Cargo volume at major US retail container ports is anticipated to fall by 4 per cent this year compared with 2007 as a result of the nation's economic slowdown, according to the latest monthly Port Tracker report from the (US) National Retail Federation and Global Insight.
Total volume is projected to reach 15.8 million TEU in 2008, down from 16.4 million TEU in 2007. The forecast follows shrinking cargo volumes for each month this year compared to the same period last year, and this trend is expected to continue in each remaining month except for October and December, the report said.
"This has been a very challenging year, and cargo volume reflects consumer demand as retailers work to keep inventory as tight as possible in order to keep supply and demand in balance," NRF vice president for Supply Chain and Customs Policy Jonathan Gold said.
US ports surveyed handled 1.3 million TEU in June, the most recent month for which actual numbers are available. The volume was down 0.3 per cent from May and 10.3 per cent from June 2007.
July was estimated at 1.37 million TEU, down 5.2 per cent from a year ago, and August is forecast at 1.42 million TEU, down 2.7 per cent. September is forecast at 1.4 million TEU, down 4.9 per cent, but October is forecast to be up 1.1 per cent at 1.46 million TEU. November is forecast at 1.37 million TEU, down 0.3 per cent, and December at 1.32 million TEU, up 3.4 per cent, a joint statement said.
The US ports covered by Port Tracker are Los Angeles/Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah and Houston.
In a related development, the report noted that the US west coast longshore labour union contract expired on July 1, but any major labour-related slowdown was avoided when the Pacific Maritime Association and the International Longshore and Warehouse Union announced on July 28 that they had reached a tentative agreement on a new six-year contract.
Global Insight economist Paul Bingham said: "The only other major issue affecting port labour, the implementation of the Transportation Worker Identity Credential programme, has been delayed, so this concern has been pushed out to 2009. Port and related transportation labour is expected to continue to be adequate."
Total volume is projected to reach 15.8 million TEU in 2008, down from 16.4 million TEU in 2007. The forecast follows shrinking cargo volumes for each month this year compared to the same period last year, and this trend is expected to continue in each remaining month except for October and December, the report said.
"This has been a very challenging year, and cargo volume reflects consumer demand as retailers work to keep inventory as tight as possible in order to keep supply and demand in balance," NRF vice president for Supply Chain and Customs Policy Jonathan Gold said.
US ports surveyed handled 1.3 million TEU in June, the most recent month for which actual numbers are available. The volume was down 0.3 per cent from May and 10.3 per cent from June 2007.
July was estimated at 1.37 million TEU, down 5.2 per cent from a year ago, and August is forecast at 1.42 million TEU, down 2.7 per cent. September is forecast at 1.4 million TEU, down 4.9 per cent, but October is forecast to be up 1.1 per cent at 1.46 million TEU. November is forecast at 1.37 million TEU, down 0.3 per cent, and December at 1.32 million TEU, up 3.4 per cent, a joint statement said.
The US ports covered by Port Tracker are Los Angeles/Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah and Houston.
In a related development, the report noted that the US west coast longshore labour union contract expired on July 1, but any major labour-related slowdown was avoided when the Pacific Maritime Association and the International Longshore and Warehouse Union announced on July 28 that they had reached a tentative agreement on a new six-year contract.
Global Insight economist Paul Bingham said: "The only other major issue affecting port labour, the implementation of the Transportation Worker Identity Credential programme, has been delayed, so this concern has been pushed out to 2009. Port and related transportation labour is expected to continue to be adequate."