Amid COVID-19 crisis, National Retail Federation along with Hackett Associates issued the Global Port Tracker report, highlighting that U.S. retail container ports appear to be slightly easing from the pandemic.
According to the report, U.S. ports covered by Global Port Tracker managed to handle 1.61 million TEUs during April.
That was down by 7.8% from a year earlier, but up by 17% from a four-year low seen in March and significantly better than the 1.51 million TEU previously expected.
The numbers we’re seeing are still below last year, but are better than what we expected a month ago. It may still be too soon to say but we’ll take that as a sign that the situation could be slowly starting to improve.
….NRF Vice President for Supply Chain and Customs Policy, Jonathan Gold noted.
Although June’s official numbers are not yet available, is estimated at 1.56 million TEU, down 12.9% from last year, while forecasts see July at 1.62 million TEU, down 17.4%; August at 1.71 million TEU, down 12.9% and September at 1.66 million TEU, down 11.3%.
Imports are erratic, with one month up and the next down. Getting 40 million people back to work will take time, especially with many fearful of catching the virus and staying home. That makes a rapid return to an economic boom unlikely.
…Hackett Associates Founder, Ben Hackett stated.
Concluding, the first half of 2020 is forecast to total 9.46 million TEU, down 10% from the same period last year but better than the 9.15 million TEU expected a month ago. Before the coronavirus lockdown, the first half of the year was forecast at 10.47 million TEU.
