- US West Coast imports amounted to 1.10 million TEUs in April, the sixth highest on record
- In the first four months of the year, volumes were up by 40.3% from the same period in 2020 and 22.8% from 2019
- Retail sales were pushed up by the arrival of the US$1,400 check, part of the latest stimulus round in the US, boosting US consumers’ spending on imported goods
- The Port of Long Beach handled imports reaching 490,127 TEUs in April, up 32% year-on-year, while imports at the Port of Los Angeles grew 44.8% to 367,151 TEUs during the same month
The surge in US container imports continued in April when West Coast handled imports totaling 1.10 million twenty foot equivalent units (TEUs), the sixth highest on record, according to a new Baltic and International Maritime Council (BIMCO) analysis.
Imports had never exceeded this level until August 2020, and developments in the past nine months mean that April imports are only the sixth highest on record. In the first four months of the year, volumes are up by 40.3%, representing an increase of 1.2 million TEUs from the same period in 2020. Compared to 2019, volumes are still up by an impressive 22.8% (+793,500 TEUs).
Imports decreased in April compared to March when volumes were record high at 1.16 million TEUs. The record-high US West Coast imports helped make March the busiest month ever for global container shipping with 15.5 million TEUs being exported globally.
Retail sales in both months were pushed up by the arrival of the US$1,400 cheque, part of the latest stimulus round in the US, in late March and the first part of April, boosting US consumers’ spending on imported goods, said the report.
The high retail sales in March and April mean inventories need restocking, and the stop and start nature of the supply chain over the past year may be incentivizing importers to get ahead on their usual schedules to avoid shortages further down the line. This would mean higher imports now, and in the next few months, potentially dampening some of the higher demand in the usual third quarter peak season, said BIMCO.
Relatedly, the latest reports coming in from some of the ports on the West Coast highlighted the continued robust growth of imports.
The Port of Long Beach in April 2021 loaded imports reaching 490,127 TEUs compared to the previous year, an increase of 32%. Meanwhile, imports handled by the Port of Los Angeles grew 44.8% to 367,151 TEUs last month compared to a year ago.
The Port of Oakland handled 100,096 20-foot import containers last month, the most for a single month in the port’s 94-year history and the first time Oakland has passed the 100,000-box milestone for imports in a month.
Oakland’s April import volume increased 25% year-on-year, the third consecutive month of import gains, and the second straight record month. According to the port, import volume year-to-date has increased 19%.
Photo by Don Ramey Logan
