Search
 

Container Traffic at US Ports Dives

Container volumes posted year-over-year declines every month last year.

By John McCloud | Updated on February 18, 2009

WASHINGTON, DC-Container traffic at US ports fell 7.9% last year, and the the latest monthly Port Tracker report from the National Retail Federation (NRF) and IHS Global Insight predicts it will drop at an even faster pace during the first half of 2009. According to Port Tracker, container volumes posted year-over-year declines every month last year, as well as during the last five months of the preceding year. Last year’s performance was the worst since ’04.

Surprisingly, given the falloff in Asian imports due to the slumping retail economy, several West Coast ports performed better than average last year, though they still saw declines. These included Tacoma, WA which experienced a 3.3% decline, Los Angeles at 6.04% and and Portland, OR, Oakland, CA and Long Beach, CA at 6.4% each. Seattle, on the other hand, performed far below the national average, with a decline of 13.7%.

Furthermore, even the ports with better-than-average showings recorded steep declines in the final months of the year. The Port of Tacoma, for example, saw volume tumble 12.3% in December, while Los Angeles dropped 15.18% in December and Oakland saw year-over-year declines of 16.5% in November and 13% in December. While most analysts believe the first few months of the new year will show comparable decreases, the unexpected 1% rise in January retail sales provides some hope the pattern will improve as the year wears on.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.