At 128,892 TEUs (20-foot equivalent units), full imports grew almost 19 percent compared to January 2016. Fuller ships calling ahead of the Lunar New Year as well as retail stores restocking their inventory following a strong holiday retail season were two contributing factors to the increase.
The Lunar New Year landed on Jan. 28 this year. Traditionally, the factories in China ramp up production leading up to the holiday before they shut down for up to two weeks for the holiday. As a result, ocean carriers reduce the number of sailings to accommodate for the slowdown. With China making up approximately 60 percent of our import volumes, we may see lower cargo volumes in February because fewer ships will reach our gateway.
Full exports also recorded a strong month with 76,339 TEUs, a 17 percent increase. The total international TEU volumes grew nearly 18 percent in January.
Domestic volumes for January performed better than the previous year, with Alaska volumes up more than 19 percent as a result of three additional sailings in January. Alaska volumes are expected to decline 5 to 6 percent this year due to soft market conditions.
NWSA volumes off to strong start; total international TEU volumes grow nearly 18%
