|
|
|
|
|
|
|
International Cooperation Department
Tel.: (+86-21) 65853850-8034
Fax: (+86-21) 65373125
E-mail: ICDept@sisi-smu.org
|
|
|
|
|
International Shipping |
|
| Import levels rebound in July but drop post tariff pause |
|
Date:2025-07-16 Readers:
|
IMPORT cargo volume at big US container ports is expected to rebound this month, but fall again after the pause high tariffs ends, according to the Global Port Tracker from the National Retail Federation (NRF) and Hackett Associates.
"The tariff situation remains highly fluid and retailers are working hard to stock up for the holiday season before the various tariffs that have been announced and paused actually take effect," said NRF vice president Jonathan Gold.
"Retailers have brought in as much merchandise as possible ahead of the reciprocal tariffs taking effect, and the latest extension to August 1 is greatly appreciated. Nonetheless, uncertainty over tariffs makes it increasingly difficult for retailers to plan, especially small businesses that have no capacity to absorb tariffs.
US President Donald Trump has signed an executive order delaying "reciprocal" tariffs until August 1 but also announced tariffs of up to 40 per cent on more than a dozen countries.
The president has indicated he will send out additional letters to other countries. There are also questions about what happens with tariffs on China tariffs in August even though a deal was recently signed.
"A flurry of tariff-related announcements from the Trump administration has only served to further increase supply chain uncertainty," Hackett Associates Founder Ben Hackett said.
Ports covered by Global Port Tracker handled 1.95 million TEU in May, the latest month for which final data is available. That was down a sharp 11.8 per cent from April and down 6.4 per cent year on year. It was also the first year-on-year decline since September 2023 and the lowest volume since 1.93 million TEU in May 2024.
Ports have not yet reported numbers for June, but port tracker projected the month at 2.06 million TEU, up 5.9 per cent from May but down 3.7 per cent year on year.
July is forecast at 2.36 million TEU, up 2.1 per cent year on year; August at 2.08 million TEU, down 10.4 per cent year on year, and September at 1.82 million TEU, down 19.9 per cent year on year for the lowest monthly total since 1.87 million TEU in December 2023.
October is forecast at 1.81 million TEU, down 19.2 per cent year on year, and November at 1.7 million TEU, down 21.3 per cent for the lowest total since 1.78 million TEU in April 2023.
While the falling aggregative totals in August through November are related to tariffs, the large year-on-year percentage declines are partly because imports in late 2024 were elevated due to concerns about east coast and Gulf Coast port strikes.
The current forecast would bring the first half of 2025 to 12.63 million TEU, up 4.5 per cent year on year. That's better than the 12.54 million TEU forecast last month, but still below the 12.78 million TEU forecast earlier this year before the April tariffs announcement.
Global Port Tracker covers the ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the west coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the east coast, and Houston on the Gulf Coast.
https://www.shippingazette.com/news?news_id=9250700000886 |
|
Back:
Container Corp of India Q1 volume up 11pc to 1,290,000 TEU
Next:
ABS and FLOWRA to Advance Offshore Wind Technologies
|
|
|
|
|
|
|
