Cargo volumes at the South Carolina Ports Authority fell 12% year-over-year to 199,208 TEUs in September.
Besides lower volumes YoY, the ports also processed less cargo month-over-month with 203,169 total TEUs in August.
The U.S. port industry is anticipating a slower peak season as a result of lower consumer appetite and tempered U.S. economy, the port operator said last month.
At the same time, retailers seems to have gotten their inventory under control ahead of the holiday shipping season, National Retail Federation CEO Matthew Shay told the press on Monday. Shay explained that inventory-to-sales ratios have normalized to pre-pandemic levels and that the industry is in a “better place and will be well positioned for what happens after the holiday season.”
