2024 US container port inbound cargo volumes predicted to reach highest since 2022 due to strong consumer spending and extended peak shipping season, despite supply chain challenges.

The National Retail Federation (NRF) and Hackett Associates report predicts that monthly inbound cargo volumes at major US container ports will reach their highest levels since 2022 this summer. This increase is attributed to strong consumer spending, retailers stocking up to meet demand, and the extension of the annual peak shipping season. The first half of 2024 is expected to total 12.1 million TEU, up 15% from the same period last year. However, supply chain challenges including congestion at overseas ports and increased freight rates are affecting operations and shipping rates.

June 10, 2024
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