Traffic at US container ports is starting to build again after its traditional winter lull, but will still show weak increases over the next few months, according to the monthly Port Tracker report released by the National Retail Federation and Global Insight consultants.
"Monthly port volumes are building slowly following the slow season but import container traffic is forecast to be quite weak through August due to the underlying weakness in demand in the US economy," said Global Insight economist Paul Bingham.
US ports surveyed handled 1.24 million TEU in February, the latest month for which actual numbers are available and traditionally the slowest month of the year. The number was unchanged from January, but down 5.4 per cent from February 2007 to make it the seventh month in a row to show a year-to-year decline.
March was estimated at 1.29 million TEU, up 1.1 per cent from March 2007, an increase that would break the string of year-to-year decreases if the figures hold true when actual numbers come in. April is forecast at 1.34 million TEU, up 1.7 per cent from April 2007.
May is forecast at 1.36 million TEU, down 1 per cent from May 2007, June at 1.38 million TEU, down 4.9 per cent from June 2007, and July at 1.43 million TEU, down 1 per cent from July 2007. August is forecast at 1.46 million TEU, the same as August 2007.
Negotiations on a new west coast alongshore contract have begun, but disruptions that closed ports in 2002 are not expected to be repeated when the current contract expires this summer, said the retail federation's statement.
Ports covered by Port Tracker are Los Angeles/Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah and Houston are rated 'low' for congestion.
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