The volume of imported containers in the United States continues to plummet, and may resume growth in the second half of 2023!

It is learned that according to foreign media reports, amid a slowdown in freight demand, the volume of import containers at US ports is returning to normal levels before the epidemic.

According to the latest monthly global port tracking report released by the National Retail Federation (NRF) and Hackett Associates, as the number of new crown infection cases decreases, the monthly throughput of major US container ports has dropped below the 2 million TEU mark. Port throughput is expected to continue at this level in the spring of 2023.

“After nearly three years of the pandemic impacting global trade and consumer demand, import volumes at U.S. ports are returning to normal pre-2020 levels,” said Ben Hackett, founder of Hackett Associates. “As inflation slows and consumer demand picks up, we expect ports to return to growth in the second half of 2023.”

Jonathan Gold, NRF's vice president for supply chain and customs policy, stressed that ports have gotten a "break" in recent months as consumer demand has fallen due to persistent inflation and high interest rates. "For now, U.S. consumers are still spending and volumes are still high, but ports are not seeing the congestion and ships waiting to unload that persisted a year ago," he said.

Gold added that U.S. ports should use this period to address potential supply chain challenges ahead, such as finalizing a labor contract at West Coast ports. (The International Longshore and Warehouse Union and the Pacific Maritime Association, which represent longshoremen, have yet to reach an agreement; their contracts expired July 1.)

In March 2020, imports at U.S. ports plummeted to a four-year low of 1.37 million TEUs as the pandemic shut down many industries. After a brief shutdown, imports began to soar as consumer demand rebounded. In August 2021, imports at ports reached 2 million TEUs. Since then, imports have remained at a relatively high level.

Data showed that in November 2022, U.S. ports handled a total of 1.78 million TEUs, down 11.3% from the previous month and 15.8% from the same period last year, the lowest total since February 2021 (1.87 million TEUs).

At present, ports have not yet reported December figures. Hackett Associates predicts that U.S. ports will handle 1.88 million TEUs in December, a year-on-year decrease of 10.1%. In 2022, total imports at U.S. ports are expected to be 25.7 million TEUs, a year-on-year decrease of 0.7%. In addition, NRF predicts that U.S. retail sales in 2022 will increase by 6% to 8% compared with 2021.

Editor ✎ Nicole/

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