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US retail import frenzy persists as worries rise over dockers' contract

US RETAILERS, worried about lack of progress at the west coast longshore contract talks, continue to import at above-average levels, according to the monthly Global Port Tracker report.

But the report, released by the National Retail Federation and Hackett Associates, expects cargo volume will drop in September from the record set in August.

揟he negotiations have made progress and retailers have been stocking up, but there抯 still cargo that needs to arrive before the holiday season,?said federation vice president Jonathan Gold.

Import volume at major US portsis expected to total 1.47 million TEU. September has averaged 1.42 million TEU over the past five years.

US ports followed by Global Port Tracker handled 1.5 million TEU in July, the latest month for which after-the-fact numbers are available. That was up 1.1 per cent from June and 3.7 per cent from July 2013.

August was estimated at 1.53 million TEU, up 2.9 per cent from the same month last year, and September is forecast at 1.47 million TEU, up 2.4 per cent from last year.

October is forecast at 1.51 million TEU, up 5.5 per cent; November at 1.39 million TEU, up 3.8 per cent and December at 1.37 million TEU, up 4.1 per cent.

Those numbers would bring 2014 to a total of 17.1 million TEU, an increase of 5.3 per cent over 2013抯 16.2 million. Imports in 2012 totalled 15.8 million.

The first half of the 2014 totalled 8.3 million TEU, up seven per cent over last year. January 2015 is forecast at 1.43 million TEU, up 3.8 per cent from January 2014.

Hackett Associates Founder Ben Hackett said cargo levels have bounced back since the lows seen during the 2009 recession, but that the recovery has not been as steady as in previous recessions.

揟he North American economy is growing, but at lower rates than one would expect coming out of a deep recession,?Mr Hackett said. 揑t remains hesitant, growing in spurts rather than in a sustained pattern.