Imports at major U.S. container ports are expected to remain strong this October, despite a recent strike that temporarily halted operations from Maine to Texas. This information comes from the Global Port Tracker report, released by the National Retail Federation (NRF) and Hackett Associates.
Jonathan Gold, NRF Vice President for Supply Chain and Customs Policy, commented on the situation: “It was a huge relief for retailers, their customers and the nation’s economy that the strike was short lived.” He added that while affected ports will need weeks to recover, there should be no impact on the holiday shopping season. Gold emphasized the importance of negotiating a long-term contract before mid-January to avoid future disruptions.
The International Longshoremen’s Association initiated a strike at East and Gulf Coast ports on October 1 after their contract with the U.S. Maritime Alliance expired. The strike ended after three days when a tentative agreement was reached regarding wage increases and a short-term contract extension until January 15. NRF had led efforts urging President Biden to intervene in resolving the strike.
Ports have been handling increased cargo volumes since spring as importers brought goods early due to potential strikes and shifted some shipments to West Coast ports. Ben Hackett, Founder of Hackett Associates, explained: “The surge in imports over the past few months has clearly been the result of contingency imports by wholesalers, retailers and industrial companies in anticipation of the East and Gulf Coast port strike rather than a sudden increase in demand.”
In August, U.S. ports covered by Global Port Tracker managed 2.34 million Twenty-Foot Equivalent Units (TEU), marking an increase from July and setting high volumes not seen since May 2022. September's numbers are pending final reports but were projected at 2.29 million TEU by Global Port Tracker.
Forecasts indicate October will see 2.12 million TEU, November 1.91 million TEU, December 1.88 million TEU, with total imports for 2024 reaching approximately 24.9 million TEU—a rise from last year’s figures.
NRF forecasts retail sales growth between 2.5% and 3.5% over last year excluding certain sectors like automobile dealers and gasoline stations.
Global Port Tracker provides data for various U.S. ports including those on both coasts and is available free for NRF members with subscription options for non-members through NRF.com or globalporttracker.com.
NRF continues its role as an advocate for retail industry interests while Hackett Associates offers consulting services within international maritime industries.
