Port Performance: Global Port Tracker, Fourchon, Saint John

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The latest Global Port Tracker report expects containerized imports will tail off from their record highs in August and September, but monthly growth from year-earlier levels will continue at least through March. Industry at Port Fourchon in 2013 generated more than $2.8 billion in sales revenue and $650 million in household earnings in the state of Louisiana, according to a newly released update of a 2008 economic impact report. Port Saint John’s booming container trade experienced yet another month of double-digit growth in October. 

Global Port Tracker: Record Box Imports to Slow

Import volume at the top U.S. containerized retail cargo handling ports will slow this month, but year-on-year gains should continue at least through March, according to the Global Port Tracker report released earlier this month by the National Retail Federation and Hackett Associates.

Global Port Tracker’s conclusions are based on its survey and analysis of inbound container traffic flows at the ports of Charleston, Hampton Roads, Houston, Long Beach, Los Angeles, Miami, New York/New Jersey, Oakland, Port Everglades, Savannah, Seattle and Tacoma.

"Retailers have done all they can to stock their shelves and build up inventories in case the worst should happen," said NRF vice president Jonathan Gold, referring to the talks with the West Coast dockers union. "We believe it's time for President Obama to send in a federal mediator and do what it takes to reach an agreement," he said.

The contract between the Pacific Maritime Association and the International Longshore and Warehouse Union expired on July 1, prompting concerns about potential disruptions that could affect holiday merchandise.

NRF and more than 100 other business groups have asked President Obama to send a federal mediator to help with negotiations.

The 1.59 million TEUs handled in September, the latest month for which finalized numbers are available, was up 5.2 per cent from the preceding month and by 10.9 percent compared to September 2013.

October is estimated at 1.59 million TEUs, within about 3,000 containers of September's level and up 11 percent from the same month last year. Subsequent month forecasts: November – 1.4 million TEUs ( 3.9 percent); December – 1.36 million TEUs ( 3.3 percent; January 2015 – 1.42 million TEUs ( 3.1 percent); February – 1.35 million TEUs ( 8.4 percent); March – 1.33 million TEUs ( 2.3 percent).

Global Port Tracker forecasts a CY 2014 total of 17.3 million TEUs, up from 16.2 million in 2013 and 15.8 million in 2012.

Industry at Port Fourchon in 2013 generated more than $2.8 billion in sales revenue and $650 million in household earnings in the state of Louisiana, according to a newly released update of a 2008 economic impact report.

"The Economic Impact of Port Fourchon: An Update" also reveals that 10,804 jobs statewide are directly related to Port Fourchon and that every job created in the port creates 5.2 jobs elsewhere in the state’s economy.

It confirms that business at Port Fourchon has been booming since the mid-2000s, showing significant increases in all categories quantified in the 2008 economic impact study. For example:

• Business sales revenue increased 87 percent from $1.5 billion in 2008 to $2.8 billion in 2014.
• Household earnings increased 88 percent from $350 million in 2008 to $657.5 million in 2014.
• Average annual wage per worker increased 32 percent from $43,016 in 2008 to $56,963 in 2014.

"What is most encouraging to see is that out of all that our tenants are investing and earning through their work at Port Fourchon, about 80 percent of it stays right here in our community, providing billions in revenue, household earnings and local taxes to the residents of Lafourche and Terrebonne," said GLPC Executive Director Chett Chiasson.

Click here to access the 2014 and the 2008 economic impact studies.

Port Saint John’s container trade continues to skyrocket. The October box count jumped 40.1 percent from a year ago, bringing the total since January to 76,127 TEUs and an increase from January-October 2013 of 18.9 percent. Similarly, containerized cargo during that same 10-month period rose 13 percent, from 423,814 to 477,676 metric tons. This year’s growth follows the 60 percent jump the port experienced in 2013.

The port also reports a 94 percent upsurge in salt cargo from a new potash mine – to 439,339 tons from 226,934 tons.

Dry bulk and containerized cargo were major contributors to the 12 percent tonnage increase recorded by port authority facilities from January through October.

"These increases continue to mean greater economic activity for our city and province such as the 500 direct and indirect jobs attributable to movement of containerized cargo at this port," said Port Authority CEO Jim Quinn. "In the dry bulk sector, we were pleased to recently learn that the potash deposit has been reached in the new Picaddilly mine. Our natural resource sector is vitally important to the provincial economy, and this port is ready to be the marine connection to bring New Brunswick’s natural resources to the world."