Inbound traffic via US container ports expected to grow ‘dramatically’ during the first half of 2021, particularly in comparison with last year’s disrupted market, with a further boost likely from a new financial stimulus. Imports at the largest US container ports are expected to grow “dramatically” during the first half of 2021, particularly in comparison with last year’s disrupted market, according to the monthly Global Port Tracker report released today by the National Retail Federation (NRF) and Hackett Associates.
And the surge of containerised imports into the US looks set to be boosted further, as the country’s latest financial stimulus effort has been approved by the US Senate, setting the stage for further rises in consumer spending in the coming months, a move that freight forwarders expect to further boost freight imports. The US $1.9 trillion bill passed the Senate on 6 March and now heads back to the House of Representatives where a vote on it will be held this week, Lloyd’s List reports.
NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said “NRF is forecasting what could turn out to be record retail sales growth in 2021, and retailers are importing huge amounts of merchandise to meet the demand. The supply chain slowdown we usually see after the holiday season never really happened this winter, and imports are already starting to grow again.
“Consumers haven’t let the pandemic stop them from shopping, and retailers are making sure their customers can find what they want and find it safely.”
US ports covered by Global Port Tracker handled 2.06 million Twenty-Foot Equivalent Units in January, the latest month for which final numbers are available. That was down 2.3 percent from December as the busy holiday season came to an end. But with a 13 percent year-over-year increase, it was the busiest January since NRF began tracking imports in 2002 and the first time the month has ever topped the 2 million TEU mark.
While import numbers for both February and March are forecast to be significantly higher than normal, year-over-year comparisons are difficult because of the pandemic, the organisations noted, adding: “February is traditionally the slowest month of the year as Asian factories close for Chinese New Year, but last year most remained closed into March because of the coronavirus, reducing numbers even further.
“This year, however, some remained open during the holiday in order to fill a surge in orders, and ships arriving at U.S. ports faced a backlog to unload.”
February results aren’t available yet, but the month was projected at 1.88 million TEU, up 24.4 percent over last year, while March is forecast at 1.98 million TEU, up 44.1 percent.
April is forecast at 1.9 million TEU, up 18.2 percent year-over-year; May at 1.92 million TEU, up 25.2 percent; June also at 1.92 million TEU, up 19.6 percent, and July at 2.02 million TEU, up 5.3 percent.
The first half of 2021 is forecast at 11.7 million TEU, up 23.3 percent from the same period in 2020, which experienced a major decline in imports due to COVID-19. Imports saw a total of 22 million TEU in 2020, up 1.9 percent from 2019’s 21.6 million TEU and beating the previous record of 21.8 million TEU recorded in 2018.
Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, provides historical data and forecasts for the US ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the East Coast, and Houston on the Gulf Coast.
Source: Lloyd’s
