Major U.S container ports are recording high import volumes as retailers continue to front-load, and the National Retail Federation (NRF) expects this trend to continue. NRF Vice President for Supply Chain and Customs Policy, Jonathan Gold, explained that even though a second U.S. port strike was averted, retailers had rushed to ship their imports before the contract deadline in anticipation of a potential disruption. The continued surge in import volumes is now being driven by shippers looking to avoid higher costs from expected tariff increases under the new administration.

According to data from The Global Port Tracker, November’s volumes were up 14.7% against a year ago. December is also expected to exceed projections by 19%, with estimated imports at 2.24 million TEUs.

The NRF has revised its 2024 forecast, predicting 25.6 million TEUs, a 15% increase from 2023. Import momentum is projected to carry into early 2025. The NRF projects a 10% year-over-year (y/y) growth in January and March while February is expected to be slower due to factory closures in China and Asia for the Lunar New Year holiday. The early forecast sees an 8% y/y for April and an almost 6% y/y increase for May.

Source: The Maritime Executive