Retail Import Volume Hits Lowest Level in 7 Years

The first half of 2009 is now forecast at 5.9 million TEU, down 21 percent from the 7.5 million TEU seen in the first half of 2008. Total volume for 2008 was 15.2 million TEU, down 7.9 percent from 2007's 16.5 million TEU and the lowest level since 2004's 14 million TEU.

"The weak port cargo volumes have left port trucking with excess capacity, and cargo is moving without congestion either at the ports or through the inland system," IHS Global Insight Economist Paul Bingham said. "Rail operations were affected by flooding in the northern states in March and April but disruptions were not sustained enough to cause significant delays."