Container ports in the United States will enter a busy period in September
As global trade continues to fluctuate and grow, the nation's major container ports are gearing up for another historically busy period. According to the National Retail Federation (NRF) and Hackett Associates' Global Port Tracker Report, September 2024 is expected to be another busy peak month for U.S. ports.
However, in September, while handling capacity is expected to be 2.31 million TEU, up 14% from a year ago, ports on the East Coast and Gulf Coast may face the risk of strikes. If strike action does take place, it could have a significant impact on port operations and handling volumes in subsequent months.
Looking ahead to the next few months, October is expected to handle 2.08 million TEU, a slight increase of 1.3% year-on-year. In addition, the projected volume for November and December is 1.92 million TEU and 1.89 million TEU, respectively, an increase of no more than 2% year-on-year. For the full year 2024, processing capacity is expected to reach 24.98 million TEU, an increase of 12.3% compared to 2023.
For the first half of 2024, US ports have handled 12.1 million TEUs, an increase of 14.8 percent over the same period last year. The forecast for January 2025 shows a slight decline of 0.3% to 1.96 million TEU.
These growth figures show strong demand in the US retail market. The National Retail Federation expects core retail sales (excluding auto dealerships, gas stations and restaurants) to grow 2.5 percent to 3.5 percent in 2024 over 2023. This growing trend not only reflects the power of consumption within the United States, but also hints at the complexity and challenges of managing global supply chains.
For port managers and related retailers who occupy key positions in the global economy, the Global Port Tracker provides key data and trend insights to help them better plan for and adapt to upcoming challenges.
However, in September, while handling capacity is expected to be 2.31 million TEU, up 14% from a year ago, ports on the East Coast and Gulf Coast may face the risk of strikes. If strike action does take place, it could have a significant impact on port operations and handling volumes in subsequent months.
Looking ahead to the next few months, October is expected to handle 2.08 million TEU, a slight increase of 1.3% year-on-year. In addition, the projected volume for November and December is 1.92 million TEU and 1.89 million TEU, respectively, an increase of no more than 2% year-on-year. For the full year 2024, processing capacity is expected to reach 24.98 million TEU, an increase of 12.3% compared to 2023.
For the first half of 2024, US ports have handled 12.1 million TEUs, an increase of 14.8 percent over the same period last year. The forecast for January 2025 shows a slight decline of 0.3% to 1.96 million TEU.
These growth figures show strong demand in the US retail market. The National Retail Federation expects core retail sales (excluding auto dealerships, gas stations and restaurants) to grow 2.5 percent to 3.5 percent in 2024 over 2023. This growing trend not only reflects the power of consumption within the United States, but also hints at the complexity and challenges of managing global supply chains.
For port managers and related retailers who occupy key positions in the global economy, the Global Port Tracker provides key data and trend insights to help them better plan for and adapt to upcoming challenges.
