Puget Sound gateway container volumes normalize in May
The Northwest Seaport Alliance’s 2016 container volumes began to normalize in May following last year’s unusual trade patterns during contract negotiations.
Full containerized exports continued to recover, growing 12 percent year to date to 382,295 TEUs (20-foot equivalent units). Meanwhile, full imports are flat year to date at 520,215 TEUs. Imports have been muted as retailers continue to work through excess inventory. Domestic volumes remain sluggish due to the weakened Alaska economy.
Total NWSA container volumes for the month fell 7 percent compared to May 2015, and the year-to-date volume lag is about 2 percent.
While auto imports are flat, breakbulk cargo continues to struggle, down 36 percent due to the strong dollar and slowing economic growth in China.