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Ocean Cargo Volumes Continue to Fall

The decline is contributing to greatly reduced demand for industrial space in both surrounding markets and US markets in general.

By John McCloud | Updated on December 31, 2008

WASHINGTON, DC-Year-over-year cargo volume at the nation’s major container ports fell for the 16th straight month in November. The decline is contributing to greatly reduced demand for industrial space in both surrounding markets and US markets in general.

“As retailers face the most challenging holiday season in years, they are being careful with their inventory levels, and that means lower volume at the ports,” says Jonathan Gold, NRF vice president for supply chain and customs policy. “Cargo volume isn’t a direct correlation with dollar volume of sales, but it’s a good indication of what retailers are thinking.”

The report, which does not include exact figures for the most recent month, estimated total November traffic at 1.26 million 20-foot equivalent units (TEUs), a decline of 8.5% from 12 months earlier. In October, the ports surveyed handled 1.36 million TEUs, 2.4% higher than September but 5.4% below October, ’07 levels.

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