Retail Import Volume Sinks to 5-Year Low

The first half of 2009 is now forecast at 6.1 million TEU, down 19 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 monthly numbers are on their way back up, but that's really just the shipping cycle we see every year, whether we're in a recession or not," IHS Global Insight Economist Paul Bingham said. "The real rebound is still in the future. Import container traffic is projected to continue to be weak for the next several months due to the underlying reduction in demand for goods."