U.S. Ports to See Modest Growth in 2016 -Moody’s
Container cargo volume growth through U.S. ports will slow in 2016 as demand for American exports remains weak and U.S. retailers work through high inventories, according to a report by Moody’s Investors Service.
Moody’s said it expects container volume will rise 3% to 4% next year, down from 5% growth this year.
The strong growth in 2015 was due in part to a large influx of container cargo after West Coast dockworkers reached terms of a multi-year contract with their port employers in late February. During the months-long negotiation process, which began in May of 2014, the West Coast ports experienced periods of excessive delays with cargo ships waiting to enter the ports of Los Angeles and Long Beach for weeks.