Thursday, July 10, 2014

Top Story

Cargo surges at U.S. retail ports as West Coast longshore contract expires

As West Coast dockworkers and employers remain in talks to negotiate a new contract, holiday cargo is coming in at record levels to circumvent the supply chain disruptions of any possible strike action, according to the monthly Global Port Tracker report by the National Retail Federation and Hackett Associates.

The report said import volume at major U.S. container ports is forecast to total 1.5 million TEUs in July — the highest monthly volume in five years, as retailers imported merchandise ahead of any potential problems.

Some importers have begun shifting cargo to East Coast ports, NRF said, noting that West Coast ports handled 59 percent of U.S. retail container cargo in May, which was down from 62 percent in January.

"We're still hoping to get through this without any significant disruptions but retailers aren't taking any chances," said Jonathan Gold, NRF vice president for supply chain and customs policy. "Retailers have been bringing merchandise in early for months now and will do what it takes to make sure shelves are stocked for their customers regardless of what happens during the negotiations."

U.S. ports followed by Global Port Tracker handled 1.48 million TEUs in May, up 6.6 percent from May 2013.

June is forecast to be up 7.6 percent year-over-year at 1.46 million TEUs, and Port Tracker analysts predict that July volume will be up 4.3 percent at 1.5 million TEUs. August is forecast to be up 1.6 percent at 1.51 million TEUs, September up 1 percent at 1.45 million TEUs, October up 3.8 percent at 1.49 million TEUs, and November up 3.6 percent at 1.39 million TEUs.

NRF said it predicts 4.1 percent sales growth in 2014.

"The economy is on the upswing," said Ben Hackett Hackett, founder of Hackett Associates. "There's been a sharp drop in unemployment, consumer spending has seen solid growth over the last three months, and there's a strong level of consumer confidence."

Global Port Tracker covers the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades, Miami and Houston.


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