Container volume fell 4.9% year-on-year in September! US import demand slowed further!

The latest monthly global port tracking report released by the National Retail Federation (NRF) and Hackett Associates shows that container imports at major U.S. ports continue to decline as retailers have ample inventory.

Data shows that U.S. ports handled a total of 2.03 million TEUs (20-foot equivalent containers) in September, down 8.2% from August and 4.9% from the same period in 2021. Since May this year (2.4 million TEUs, a new high), the port's container import volume has declined month by month.

Jonathan Gold, NRF's vice president of supply chain and customs policy, said that due to concerns about port congestion, failed labor negotiations at ports and railways, and other supply chain issues, retailers imported a large amount of goods before the holidays, which caused the import volume at ports to peak in the spring rather than in the fall. Although the US railways are still facing the risk of strikes and the supply chain still has challenges, retailers are well prepared for the peak season with sufficient inventory and goods on hand.

Ben Hackett, founder of Hackett Associates, pointed out that although consumers are still buying goods, their demand has dropped significantly, and it is expected that the flattening of demand that began in the middle of this year will continue until the first half of 2023. This will further suppress the import volume of ports. On the other hand, due to the reduction in cargo volume, some carriers have suffered heavy losses, started to stop some services, and considered layoffs.

It is understood that at present, ports have not yet reported data for October, but it is predicted that US ports will handle 2.02 million TEUs in October, down 8.5% from the same period last year. November is expected to be 1.92 million TEUs, down 9.2% year-on-year, which will be the lowest since February 2021. December is expected to fall further to 1.9 million TEUs, a decrease of 9% from the same period last year. In the second half of 2022, the total import volume of US ports is expected to be 12.3 million TEUs, a year-on-year decrease of 5.3%.

Editor ✎ Nicole/

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