The latest data from the Global Port Tracker, produced for the US National Retail Federation by analyst Hackett Associates, shows volumes increased by 12% year-on-year in March to reach 1.07 million TEU. Compared with February, which is traditionally the slowest month, March’s volumes were up 7%.
The report says this growth level is expected to continue in May as consumer demand continues. May’s import volumes are expected to reach 1.14 million teu and April’s volumes are expected to reach 1.11 million teu, a 12% increase over last year.
NRF VP for supply chain and customs policy Jonathan Gold said: “Consumers are feeling better about the economy and retailers are building up their inventories to meet that demand.
“It’s easy to show an increase after last year’s downturn, but these numbers show us that retailers are confident their sales are going to go up this summer, and they give us an early hint of optimism about the autumn as well.”
Hackett Associates founder Ben Hackett said: “All the indications are that ships remain full and that volumes increased in April and will continue to do so for the next few months. “As consumers come warily back and re-stocking continues, the hesitant recovery will gain strength and stability.” The volume increase in March meant it was the fourth month in a row to show a year-on-year improvement.
Source: Damian Brett, IFW News, 18 May 2010