“…The agreement [between International Longshoremen’s Association and the US Maritime Alliance] came at the last minute, and retailers were already bringing in spring merchandise early to ensure that they would be well-stocked to serve their customers in case of another disruption, resulting in higher imports,” NRF vice president for supply chain and customs policy Jonathan Gold said in a statement.
Major US container ports have seen a surge in imports that is expected to continue due to potential increases in tariffs, the National Retail Federation and Hackett Associates recently said.
US ports handled 2.17 million TEU in November, although the Ports of New York and New Jersey have yet to report final data.
That was down by 3.2 per cent from October, but up by 14.7 per cent YoY.
“The surge in imports has also been driven by President-elect Trump’s plan to increase tariffs because retailers want to avoid higher costs that will eventually be paid by consumers. The long-term impact on imports remains to be seen,” he noted.
“We have narrowly averted a strike, but that doesn’t mean there hasn’t been an impact. Importers had already front-loaded cargo in anticipation of delays, giving a boost to imports in December and early January,” Hackett Associates founder Ben Hackett said.
US ports covered by Global Port Tracker handled 2.17 million twenty-foot equivalent units—one 20-foot container or its equivalent—in November, although the Ports of New York and New Jersey have yet to report final data. That was down by 3.2 per cent from October but up by 14.7 per cent year on year (YoY).
Ports have not yet reported December’s numbers, but Global Port Tracker projected the month at 2.24 million TEU, up by 19.2 per cent YoY. That would bring 2024 to 25.6 million TEU, up by 15.2 per cent YoY.
Before the October port contract extension and the 2024 elections, November had been forecast at 1.91 million TEU and December at 1.88 million TEU, while the total for 2024 was forecast at 24.9 million TEU.
January is forecast at 2.16 million TEU, up by 10 per cent YoY; February at 1.87 million TEU, by down 4.5 per cent because of Lunar New Year factory shutdowns in China; March at 2.13 million TEU, up by 10.6 per cent; April at 2.18 million TEU, up by 8 per cent, and May at 2.2 million TEU, up by 5.9 per cent.
Fibre2Fashion News Desk (DS)
