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Monday, August 24, 2009

US set to handle fewest boxes since 2002

Los Angeles: The US is projected to handle 12.3 million teu by year’s end, which would represent an 18.8 percent drop from 2008’s volume and the lowest level in seven years, according to the monthly Port Tracker report recently released by the National Retail Federation (NRF) and IHS Global Insight. In June, surveyed ports handled 1.01 million teu down 2 percent from May’s level and 22 percent from June 2008’s volume — marking the 24th-straight month with a year-over-year decline. “The good news is that we're expecting to move from double-digit declines into the single digits by the end of the year,” said NRF Vice President for Supply Chain and Customs Policy Jonathan Gold in a prepared statement. Volume for July is estimated at 1.06 million teu, while Port Tracker forecasts August and September volume at 1.09 million teu and 1.08 million teu, respectively. Volume in all three months would represent a 20 percent year-over-year decline. Port Tracker also projects October volume to fall 18 percent to 1.12 million teu, November volume to tumble 15 percent to 1.05 million teu and December volume to decrease 3.8 percent to 1.02 million teu.  [24/08/09]