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Retailers Holiday Plans Boost U.S. Port Traffic
Port volumes rose to near record levels ahead of the holiday season, as retailers and manufacturers stocked up inventories. U.S. ports moved an equivalent of 1.72 million 20-foot containers in July, to kick off the peak shipping season. It was the second highest level of cargo volume since 2000.
Typically, imports surge before the year-end holiday season, though in recent years it has been flat or uneven. But this year, preliminary data from the National Retail Federation points to rising retailer confidence that consumers will be in the buying mood. The data shows retailers are now restocking to match rising demand.
The Port of Los Angeles and Port of Long Beach saw imports jump 15% in July. Meanwhile, the Port of Savannah, GA., notched its busiest July ever, and Houston’s port experienced a 13% jump year-over-year.
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