South Carolina Ports' 12% Drop in September Cargo
September sees a 12% YoY dip in cargo at South Carolina Ports with retailers adjusting to the change.
September didn't bring great news for the South Carolina Ports Authority. There was a notable 12% decrease in cargo volumes from the previous year. With only 199,208 total TEUs processed, it marked a dip even from the month before, when 203,169 total TEUs were reported in August.
- September cargo volumes at South Carolina Ports down by 12% YoY.
- Total TEUs for the month stood at 199,208, a slight drop from 203,169 in August.
Why the Decline?
The broader U.S. port industry is bracing for a not-so-busy peak season. One of the reasons? A dwindling consumer interest and a slightly muted U.S. economy. But this isn't just a one-off observation - the port operator had hinted at this trend just last month.
On the brighter side, retailers seem to be adjusting well. As the holiday shipping season nears, they appear to have streamlined their inventory. This comes from the National Retail Federation's CEO, Matthew Shay, who recently mentioned that the inventory-to-sales ratios are back to their pre-pandemic days. He optimistically remarked that the industry seems more prepared for the post-holiday season this time around.
Source: Supply Chain Dive