Analysts are predicting the nation’s major retail container ports will continue to post strong import container volumes in March, indicating growing confidence of increased sales by retailers. At the same time, decreased oil production from North African is driving up the cost of oil and is likely to cause an increase in shipping costs.
Foreign import cargo volumes at the nation’s major retail container ports are expected to be up 11 percent in March over the same month last year, according to the monthly Global Port Tracker report released Monday by the National Retail Federation.
The monthly report, produced for NRF by the consulting firm Hackett Associates, covers the US ports of Long Beach/Los Angeles, Oakland, Seattle and Tacoma on the West Coast; Charleston, Hampton Roads, New York/New Jersey, and Savannah on the East Coast, and Houston on the Gulf Coast.
“These numbers show solid increases over last year and are evidence that our nation’s economic recovery is continuing to build momentum,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Increases in imports are a clear sign that retailers expect sales to continue to climb in the next several months.”
US ports followed by Global Port Tracker handled 1.2 million TEUs in January, the latest month for which actual numbers are available. That was up 5 percent from December and 12 percent from January 2010. It was the 14th month in a row to show a year-over-year improvement after December 2009 broke a 28-month streak of year-over-year declines.
February, the report points out, is traditionally the slowest month of the year and is estimated at 1.12 million TEU–an increase of 12 percent over February 2010. March is forecast at 1.19 million TEU, up 11 percent from a year ago; April at 1.24 million TEU, up 9 percent; May at 1.32 million TEU, up 5 percent; June at 1.39 million TEU, up 5 percent; and July at 1.45 million TEU, up 5 percent.
The report predicts that the first half of 2011 will come in at 7.5 million TEU, up 9 percent from the first half of 2010.
In addition, the North African political turmoil is impacting the cost of oil and possibly the costs of shipping.
“Oil supply is going down as a number of nations have dropped out of the production cycle,” Hackett said. “Freight rates have been decreasing but that will not last long as fuel costs are factored in.”
Showing posts with label Global Port Tracker. Show all posts
Showing posts with label Global Port Tracker. Show all posts
Monday, March 7, 2011
Thursday, January 20, 2011
Report: Import Box Traffic to Continue Increases Through April
Following on the news of sizable gains in import container traffic at most major West Coast ports in 2010, analysts are predicting the upward trend will continue nationwide through the first four months of 2011, albeit at a slower pace.
Import cargo volume at the nation’s major retail container ports is expected to be up 8 percent in January over the same month in 2010, according to the monthly Global Port Tracker report.
Produced for the National Retail Federation by the consulting firm Hackett Associates, the report covers the US ports of Long Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston and Savannah on the East Coast, and Houston on the Gulf Coast.
“While the economy clearly began to recover in 2010 and drove up cargo volume as retail sales improved, maintaining that momentum in 2011 could be difficult,” said NRF Vice President for Supply Chain and Customs Policy Jonathan Gold.
“Consumers faced with continued high unemployment are expected to focus more on necessities than discretionary spending. Retailers will continue to carefully gauge consumer demand and adjust import levels accordingly.”
In addition to the 8 percent growth in import container traffic in January, the report predicts a 13 percent increase in import boxes during February, a 9 percent increase in March, a 7 percent increase in April and a 2 percent decrease in May.
“Our projections for 2011 remain firm, albeit not at the levels of the recovery rates of last year,” Hackett Associates founder Ben Hackett said. “Growth in the upper single-digit levels can be expected, particularly on the West Coast.”
The major West Coast ports all reported significant 2010 calendar year increase in total container volumes: the Port of Long Beach was up 23.6 percent over 2009; the Port of Los Angeles gained 16 percent; the port of Oakland was up 13.9 percent; and, the Port of Seattle saw an astounding 34.6 percent increase.
In each case, total import containers handled played a major part in growth seen over 2009 levels. The Port of Long Beach reported a 23.4 percent increase in loaded inbound containers during 2010; imports at the Port of Los Angeles were up 12.8 percent; the Port of Oakland reported imports up by 14.5 percent; and, imports through the Port of Seattle increased 46.6 percent.
Import cargo volume at the nation’s major retail container ports is expected to be up 8 percent in January over the same month in 2010, according to the monthly Global Port Tracker report.
Produced for the National Retail Federation by the consulting firm Hackett Associates, the report covers the US ports of Long Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston and Savannah on the East Coast, and Houston on the Gulf Coast.
“While the economy clearly began to recover in 2010 and drove up cargo volume as retail sales improved, maintaining that momentum in 2011 could be difficult,” said NRF Vice President for Supply Chain and Customs Policy Jonathan Gold.
“Consumers faced with continued high unemployment are expected to focus more on necessities than discretionary spending. Retailers will continue to carefully gauge consumer demand and adjust import levels accordingly.”
In addition to the 8 percent growth in import container traffic in January, the report predicts a 13 percent increase in import boxes during February, a 9 percent increase in March, a 7 percent increase in April and a 2 percent decrease in May.
“Our projections for 2011 remain firm, albeit not at the levels of the recovery rates of last year,” Hackett Associates founder Ben Hackett said. “Growth in the upper single-digit levels can be expected, particularly on the West Coast.”
The major West Coast ports all reported significant 2010 calendar year increase in total container volumes: the Port of Long Beach was up 23.6 percent over 2009; the Port of Los Angeles gained 16 percent; the port of Oakland was up 13.9 percent; and, the Port of Seattle saw an astounding 34.6 percent increase.
In each case, total import containers handled played a major part in growth seen over 2009 levels. The Port of Long Beach reported a 23.4 percent increase in loaded inbound containers during 2010; imports at the Port of Los Angeles were up 12.8 percent; the Port of Oakland reported imports up by 14.5 percent; and, imports through the Port of Seattle increased 46.6 percent.
