N. America’s Empty Ports to Get Busier as Year Ends – Analyst

(Wall Street Journal – Laura Mandaro)

The sharp drop in container volume at North America’s largest ports is likely to moderate toward year-end as consumer demand picks up for boxed goods like TV sets and sneakers, says a forecasting firm. IHS Global Insight, which estimates the volume of inbound container shipments at about a dozen U.S. and Canadian ports, expects volumes to fall at a slower pace as the year winds down and to even flatten.

“By the fourth quarter there will be signs of a turnaround. We will have stopped declining in terms of volume,” said Paul Bingham, managing director in global commerce and transportation at IHS Global Insight.

Supporting forecasts for a recovery is the recent improvement in consumer sentiment surveys that suggest households will buy more of the manufactured goods that Asia exports to the U.S. and Canada on large ocean-going ships, he said. Read more here.