US ports hit a record for container imports in May 2022

Port of Los Angeles, USA (Photo: Fox 11)

Imports at US ports hit another record high in May, according to a monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates.

That's because major US container ports have struggled to ease congestion and retailers have stocked up on goods before West Coast workers' contracts expire.

US monthly consumer import volume for the period 2021-2022 (Source: NRF/Hackett Association Global Port Tracker)

Specifically, US ports handled by Global Port Tracker handled 2.4 million TEUs in May, up 6% compared to April and up 2.7% over the same period last year. They also set a new record for imports achieved in a single month in at least the past 20 years, surpassing 2.34 million TEUs this March.

Ports have yet to report figures for June, but Global Port Tracker forecasts the month at 2.25 million TEU, up 4.8% year-on-year. The July forecast shows 2.31 million TEUs, up 5.3% year-on-year.

August forecast at 2.26 million TEU, down 0.5% year-on-year, September at 2.12 million TEU, down 0.8%, October at 2.12 million TEU, down 4, 1% and November at 2.06 million TEU, down 2.5%.

Forecasts suggest there will be a decline in the second half of this year compared to the same period last year. However, output remains high.

“Cargo volume is expected to remain high as we head into the peak shipping season, and it is essential that all ports continue to operate with minimal disruption,” said Jonathan Gold, NRF Vice President for Supply Chain and Customs Policy.

He added: “Supply chain challenges will continue throughout the remainder of the year, and it is particularly important that labor and management at West Coast ports remain at the bargaining table and reach an agreement."

The contract between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) expires on July 1, but the freight operation continues. continue.

US consumer imports for the period 2004-2021 (Source: NRF/Hackett Association Global Port Tracker)

Last week, the NRF and more than 150 groups wrote to President Biden, asking the administration to work with both sides to avoid disruption.

The slowdown in cargo from Chinese factories due to Covid-19 closures has provided an opportunity for ports to clear congestion that has built up, helping to increase activity.

In addition, retailers importing seasonal goods and other goods that need to be shipped early to avoid problems related to contract negotiations may also have contributed to the volume increase.

Hackett Associates founder Ben Hackett said: “Congestion of ships waiting to berth on the West Coast has eased, and we expect to see the same on the East Coast as carriers begin to return to their normal patterns of port calls." He added "After a short period of decline, freight rates are on the rise again as congestion in Europe and idle vessels there take capacity out of circulation."

Read more:

• Post-Covid demand boom for container shipping coming to an end
• Global trade surged, reaching a record $7.7 trillion in the first quarter of 2022

Source: Phaata.com (According to ContainerNews)

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