Subscribe to our free, weekly email newsletter!


Port Tracker report calls for increasing imports in summer months

By Jeff Berman, Group News Editor
May 08, 2012

Gradual economic growth patterns continue to be the norm based on data released in the most recent edition of the Port Tracker report by the National Retail Federation (NRF) and Hackett Associates.

But that growth may not show up in May numbers, with the report calling for flat annual growth before annual gains are expected to occur in the summer months through back-to-school season.

The ports surveyed in the report include: Los Angeles/Long Beach, Oakland, Tacoma, Seattle, Houston, New York/New Jersey, Hampton Roads, Charleston, and Savannah.
Port Tracker indicated that the first half of 2012 is expected to total 7.3 million TEU (Twenty-foot Equivalent Units), which would represent a 1.9 percent annual gain. The 2011 total was 14.8 million TEU, which was up 0.4 percent over 14.75 million TEU in 2010. Volume in 2010 was up 16 percent compared to a dismal 2009. The 12.7 million TEU shipped in 2009 was the lowest annual tally since 2003. According to NRF estimates, retail sales are expected to increase by 3.4 percent to $2.53 trillion.

“Consumers are spending despite gas prices and other economic concerns, so retailers are stocking up to meet the demand,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said in a statement. “These numbers show imports growing through the back-to-school season and even into beginning of the shipping cycle for the holiday season. That’s a sign that retailers are expecting a good year.”

In March, the most recent month for which data is available, U.S. ports featured in the report handled 1.18 million Twenty-foot Equivalent Units (TEU), which is up 14.1 percent over February, which is typically the slowest month of the year, and is up 8.5 percent over March 2011.

Port Tracker expects April to hit 1.24 million TEU for a 2 percent annual gain, with May expected to hit 1.28 million TEU, which would be flat. June is expected to be up 4 percent at 1.3 million TEU, and July is projected to see a 1.8 percent gain at 1.35 million TEU. August and September are expected to see 7.2 and 8.7 percent gains at 1.42 million TEU and 1.45 million TEU, respectively.

Hackett Associates President Ben Hackett commented in the report that this most recent set of data shows firm signs of economic recovery and improvement over 2011, which was replete with uncertainty and no meaningful import volume growth.

“The overall economic fundamentals in the U.S. are strong, with steady retail sales growth, strong supply chain management, and a rebound in consumer confidence, coupled with industrial production continuing to grow at a rate that has exceeded economists’ expectations,” Hackett recently told LM.

About the Author

Jeff Berman headshot
Jeff Berman
Group News Editor

Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Lyon, France-based Norbert Dentressangle, a $5.5 billion global third-party logistics (3PL) services provider focused on global logistics, transport, ocean, and air services, said today it has acquired Des Moines, Iowa-based Jacobson Companies, a value-added warehousing (VAW) company, for $750 million from private equity firm Oak Hill Capital Partners.

Download the newly released research report, "Transportation Management Systems" conducted by Peerless Research Group (PRG) on behalf of Supply Chain Management Review and Logistics Management magazines. Learn what logistic experts are saying about their current supply chain technology infrastructures, how they tackle the transportation component, and revealed the gaps that still need to be filled in order to attain end to-end visibility of a streamlined supply chain.

From cost center to growth center. Get insightful opinions on changes in the marketplace from this independent survey of warehouse personnel. Motorola Solutions examined the current warehousing marketplace in our 2013 Warehouse Vision Report, conducted April-May of 2013.

Even though not all publicly-traded less-than-truckload carriers (LTL) have posted second quarter earnings yet, the early consensus for those that have issued results is looking very good.

The advance estimate for second quarter GDP at 4.0 percent could serve as a sign of a steadier and improving economy.

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA