News
Imports at major U.S. retail container ports are expected to see double-digit year-over-year declines this spring and summer as the economic effects of the coronavirus pandemic continue, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
U.S. ports covered by Global Port Tracker handled 1.37 million TEUs in March, the latest month for which after-the-fact numbers are available. That was the lowest volume since 1.34 million TEUs in March 2016, down 9.1 percent from this February and down 14.8 percent year-over-year.
April was estimated at 1.51 million TEUs, down 13.4 percent year-over-year. May is forecast at 1.47 million TEUs, down 20.4 percent from last year; June at 1.46 million TEUs, down 18.6 percent; July at 1.58 million TEUs, down 19.3 percent; August at 1.73 million TEUs, down 12 percent, and September at 1.7 million TEUs, down 9.3 percent.
Before the coronavirus began to have an effect on imports, February through May had been forecast at a total of 6.9 million TEUs but is now expected to total 5.87 million TEUs, a drop of 14.9 percent.
The first half of 2020 is forecast to total 9.15 million TEUs, down 13 percent from the same period last year. Before the extent of the pandemic was known, the first half of the year was forecast at 10.47 million TEUs.
