CONTAINER flows through US ports are set for substantial end-of-year gains point to impressive improvement in 2024, reports New York's Freight Waves.
Increased traffic has been driven by shippers stockpiling imports in an effort to avoid dock strike threats as well as fresh tariffs in the coming year, according to the National Retail Federation.
American ports handled 2.17 million TEU in November, according to the trade group's Global Port Tracker. The data excludes the ports of New York and New Jersey, which have yet to report. Volume was off 3.2 per cent from October but ahead 14.7 per cent year on year.
The NRF projected December volume at 2.24 million TEU, up 19.2 per cent, and pushing full-year totals to 25.6 million TEU, 15.2 per cent ahead of 2023.
That growth came before port employers and union longshoremen on Wednesday came to an agreement on container-handling automation, averting what many feared would be a disastrous strike when the current contract extension expires Jan. 15.
"The new contract brings certainty and avoids disruptions, and we hope to see it ratified as soon as possible," NRF vice president Jonathan Gold said. "But the agreement came at the last minute, and retailers were already bringing in spring merchandise early to ensure that they would be well-stocked to serve their customers in case of another disruption.
"The surge in imports has also been driven by President Trump's plan to increase tariffs because retailers want to avoid higher costs that will eventually be paid by consumers. The long-term impact on imports remains to be seen."
Members of the International Longshoremen's Association will continue to work under the terms of the current master contract while the union and employers represented by the United States Maritime Alliance hash out the details of a new six-year pact.
https://www.shippingazette.com/news?news_id=9250100000689
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