According to the latest Global Port Tracker report by the National Retail Federation (NRF) and Hackett Associates, major U.S. ports are experiencing a near-record surge in import cargo this month.
Retailers are accelerating shipments in anticipation of a possible strike at East Coast and Gulf Coast ports, where contract negotiations have stalled. The International Longshoremen’s Association’s contract expires on September 30, and a strike threat looms if talks fail. To mitigate potential disruptions, many are shifting cargo to West Coast ports, pushing their share above 50% for the first time in over three years.
June saw a 3.6% increase in cargo volumes from May and a 17.7% year-over-year rise, with totals reaching 2.16 million TEUs. July’s volume is projected to have surged to 2.34 million TEUs, the highest since May 2022, with August expected to maintain this level. NRF forecasts 2024 retail sales to grow between 2.5% and 3.5% from 2023.
