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US retail imports are high and could be higher without port congestion: NRF

Imports at U.S.’s largest retail container port should remain at record levels this month, according to the monthly Global Port Tracker Report released today, but due to congestion slowing the movement of backup cargo, it was unusual last year. High numbers can be slightly depressed by the National Retail Federation (NRF) and Hackett Associates.

“Cargo is there to make more money at some ports, but congestion issues are impacting fluid operations,” NRF Vice President of Supply Chain and Customs Policy Jonathan Gold said in a press release. Said.

“The ship will eventually be unloaded, but everyone needs to work together to get the container out as soon as possible. Retailers have enough shelves for vacations, from early delivery of goods to chartered vessels. We do everything we need to make sure we have enough stock. Consumers should be able to find what they need, but it’s always safer to shop faster than to wait until the very end. “He advised.

Imports at U.S.’s largest retail container port should remain at record levels this month, according to the monthly Global Port Tracker Report released today, but due to congestion slowing the movement of backup cargo, it was unusual last year. High numbers can be slightly depressed by the National Retail Federation (NRF) and Hackett Associates.

“From power outages and port closures in Asia to shortages of backup vessels and truck drivers in the United States, there are few positive signs that consumer goods movements and the supply of inputs needed for industrial production are improving. “Hackett said. Ben Hackett, founder of Associates, said.

According to Hackett, the COVID-19 infection in Asia slows the loading of ships to the United States and continues to congest US ports due to lack of equipment, labor, and outbound capacity for trucks and railroads. Recently, nearly 75 ships have been waiting to enter the ports of Los Angeles and Long Beach. This is an increase from about 25 vessels a month ago, and backups have extended to ports on the east coast.

US ports covered by the Global Port Tracker processed 2.27 million 20-foot worth of units in August, the latest month for which final figures are available. This increased 3.5% from July, up 7.8% year-on-year, marking March as the second busiest month since the NRF began tracking imports in 2002.

May remains the busiest month on record at 2.33 million TEUs. A TEU is one 20-foot container or equivalent.

October is projected to be 2.21 million TEU. This is 0.3% from the same period last year, when imports surged dramatically as the economy resumed after the first wave of COVID-19 and retailers were in a hurry to respond to stagnant consumer demand. It’s declining, but it’s still the sixth busiest month. Recorded as imports remain at high levels. The year-on-year decline will be the first since July 2020.

Congestion and turmoil is in the midst of a “peak season” of shipments where retailers stock up on holiday products each year, but many retailers buy holiday products this summer to ensure adequate inventory. I started to bring it in.

It is projected to be 2.16 million TEU in November, an increase of 2.9% year-on-year and a 0.2% decrease to 2.1 million TEU in December. January 2022 is projected to increase 5.7% from January 2021 to 2.17 million TEU, and the following February is projected to increase 1.4% year-on-year to 1.9 million TEU.

In the first half of 2021, the total was 1,280,000 TEU, an increase of 35.6% from the same period of the previous year. For the full year, 2021 is on track for a total of 26 million TEUs, an increase of 18.1% compared to 2020 and a new annual record of over 22 million TEUs last year. Despite the pandemic, cargo imports in 2020 increased by 1.9% compared to 2019.

Fiber2Fashion News Desk (DS)



US retail imports are high and could be higher without port congestion: NRF

Source link US retail imports are high and could be higher without port congestion: NRF

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