Cargo Volumes Will Drop Considerably During First Half of 2009
Economists are predicting that cargo-container traffic at the nation’s major ports will drop 11.8 percent during the first six months of 2009.
That compares to a 7.9 percent decline in cargo-container volume for all of 2008.
“2008 was one of the most challenging years retailers have seen, and all indications are that 2009 won’t be any better,” said Jonathan Gold, senior vice president for supply chain and customs policy at the National Retail Federation. The federation commissions IHS Global Insight to research cargo volumes for the NRF’s monthly Port Tracker report.
“Unfortunately, cargo volume at the ports reflects retailers’ anticipated sales, and NRF expects that sales will get worse before they get better. Retailers are only going to import what they can sell,” Gold added.
December, the last month for which actual numbers are available, showed cargo-container volume was off 17.2 percent across the country compared with the same period in 2007.
January traffic was estimated to have plummeted 15.8 percent from January 2008. February, traditionally the slowest shipping month of the year, is predicted to be down 18.7 percent.
At the Port of Los Angeles, cargo-container volume for 2008 dipped 6 percent. At the Port of Long Beach, container traffic declined 11.2 percent. —Deborah Belgum
