U.S. Container Import Numbers Balloon, Despite Threats on International Trade From Washington
According to the National Retail Federation (NRF), import volumes at tracked container ports throughout the U.S. grew by 12.5% year over year even as rumors of ominous restrictive international trade policies linger over the logistics industry.
As part of their Global Port Tracker in conjunction with maritime consulting firm Hackett Associates, the NRF tracked 1.67 million TEUs (Twenty-foot Equivalent Units) coming in to major American ports in January 2017, a number the report classified as “unusually high”. If that level of import holds true, the total imported container volume over water will obliterate the total growth seen in 2016, itself up 3.2% from 2015.
In an interview with American Shipper, NRF Supply Chain and Customs Policy Vice President Jonathan Gold believes such an uptick in imported containers correlates to retailers’ expectations for upcoming shopping seasons. Such a rise in stock orders could suggest retailers are anticipating higher demand from consumers, which in turn implies consumer spending patterns are driving the ocean freight logistics industry towards soaring highs.
Interestingly, the huge growth in container imports is continuing despite fears of restrictive international trade policies emanating from the new Presidency. Ben Hackett, founder of Hackett Associates, notes that the threat of a wide range of potential policies that could “discourage international trade” has yet to do so, possibly owing to the strength of the American consumer.
Read the full article here at American Shipper
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Read more: What Does A Trump Administration Mean For Container Shipping?
By: Petere Pamela on March 16, 2017, 8:24 a.m.