News
With a pandemic-driven surge finally over, monthly import cargo volume at U.S. major container ports has fallen below the two-million-TEU mark and should remain there through most of this spring, according to the Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates.
“Ports have been stretched to their limits and beyond but are getting a break as consumer demand moderates amid continued inflation and high interest rates,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
The U.S. ports covered by Global Port Tracker handled 1.78 million TEUs in November, down 11.3% from October and down 15.8% from November 2021. It was the lowest total since 1.87 million TEUs in February 2021, which had been the only month in over two years to fall below two million TEUs.
Ports have not yet reported December numbers, but Global Port Tracker projected the month at 1.88 million TEUs, down 10.1% year over year. That would bring 2022 to an annual total of 25.7 million TEUs, down 0.7% from the annual record of 25.8 million TEUs set in 2021.
