US IMPORT cargo at big American container ports is expected to increase 9.9 per cent in October as merchants stock up for Christmas, according to the monthly Global Port Tracker commissioned by the National Retail Federation (NRF).

"The NRF's annual forecast says retailers should see solid growth during the holiday season this year and these cargo numbers back it up," said federation vice president Jonathan Gold. "Increased imports show that retailers have gauged the market and expect increased sales."



US ports followed by Global Port Tracker handled 1.42 million TEU in August, the latest month for which actual results are available. That was up 6.7 per cent from July and 3.3 per cent from August 2011.



"September was estimated at 1.49 million TEU, up eight per cent from last year, and October is forecast at 1.45 million TEU, up 9.9 per cent. August, September and October are the three busiest months of the year as retailers bring merchandise into the country for the holiday season, and volume for the three months combined is up seven per cent. While cargo volume doesn't correlate directly with sales, NRF forecasts that holiday sales will increase 4.1 per cent to US$586.1 billion this year," the release said.



With most holiday merchandise in distribution centres by the end of October, monthly cargo volume will drop off for the remainder of the year but will remain above 2011 levels, said the report. November is forecast at 1.32 million TEU, up 2.4 per cent from last year, and December is forecast at 1.28 million TEU, up 4.6 per cent.



After the holidays, said Port Tracker, January 2013 is forecast to stay at 1.28 million TEU, down 0.5 per cent from January 2012, and February is forecast at 1.19 million TEU, up nine per cent from a year earlier.



The first half of 2012 totalled 7.7 million TEU, up 2.9 per cent from the same period last year. For the full year, 2012 is expected to total 16 million TEU, up 4.1 per cent from 2011.



Hackett Associates Founder Ben Hackett noted that some retailers brought cargo into the country early because of the threat of an east coast dock strike.



"Inventories are up, which could be due to lack of demand, but it could also be due to pre-stocking in anticipation of the dock strike that didn't come," Mr Hackett said.



The Global Port Tracker survey covers Long Angeles, Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades, Miami and Houston.

APL LOGISTICS has announced an agreement with Legend Holdings Co Ltd and Beijing Willway Information Technology Co Ltd to acquire all of their shares in APLL-Zhiqin Group, a Chinese joint venture partnership among the three parties.

"The transaction, expected to close by end of the year, will accelerate Singapore-based APL Logistics' plans to expand its logistics hub management and domestic distribution capabilities in support of China's fast growing domestic economy," said an APL statement.



APLL-Zhiqin offers services in logistics hub management, domestic land transport, supply chain technology services, customs brokerage, import and export management, and supply chain consulting.



Today's joint venture today has nearly 1,000 employees, which manages hub facilities in more than 20 locations and a broad transport and distribution network covering over 2,000 locations in China, extending into third and fourth tier cities.



"We're witnessing continued growth in China's domestic market, where both APL Logistics and APLL-Zhiqin have enjoyed a fruitful partnership over the past decade," said APL Logistics north Asia vice president Danny Goh.



"The acquisition enables APL Logistics to further deepen and broaden its investment in the business and to continue to build on APLL-Zhiqin's scale, reach, capabilities and strengths," Mr Goh said.



With a presence in China since 1989, APL Logistics said it is among the largest providers of international freight management and pre-distribution logistics services out of China today.



Post acquisition, the company will combine with APLL-Zhiqin to offer a service network of 78 offices and facilities across China, thereby providing a comprehensive suite of supply chain capabilities.



APLL-Zhiqin was established in 2003 as a China-focused logistics services joint venture partnership among APL Logistics and China's Legend Holdings and Beijing Willway Information Technology. With offices and hub facilities in 30 locations across China, its transportation and distribution network spans over 2,000 cities and towns.

THE International Monetary Fund (IMF) is warning of slower growth and a risk of renewed global downturn unless the US and Europe move to repair their economies.

As the eurozone's debt crisis deepens, China's growth estimates were cut by 0.2 percentage points each year to 7.8 per cent in 2012 and 8.2 per cent in 2013, the IMF announced at its Tokyo convention, according to Bloomberg.



"Spain and Italy must follow through with plans that re-establish competitiveness, fiscal balance and maintain growth," said IMF chief economist Olivier Blanchard. "They must recapitalise their banks without adding to their sovereign debt. And they must be able to borrow at reasonable rates."



The IMF expects the US to expand 2.2 per cent this year, higher than an earlier forecast, and growing 2.1 per cent next year, less than previously forecast. Japan's growth estimate was cut to 2.2 per cent this year and to 1.2 per cent in 2013.



Spain's economy will shrink 1.3 per cent next year, 0.7 percentage point worse than predicted in July. German growth is seen at 0.9 per cent each year, with the 2013 estimate half a percentage point less than previously forecast.



The world economy will grow 3.3 per cent this year, the slowest since the 2009 recession, and 3.6 per cent next year, said the IMF' latest World Economic Outlook.



The IMF said the eurozone will contract 0.4 per cent this year, 0.1 percentage point worse than forecast in July and grow 0.2 per cent in 2013, less than the 0.7 per cent predicted three months ago.



Emerging markets are expected to growth more slowly, said the IMF. Brazil's growth rate was cut to 1.5 per cent this year compared to between 2.5 per cent and four per cent predicted earlier for next year.



Only 4.9 per cent growth is expected for India this year and six per cent next year, lower than previous forecasts of 6.2 per cent and 6.6 per cent predicted before.



Separately, Japan reported a larger than expected JYN454.7 billion (US$5.8 billion) current-account surplus. In Australia, business confidence recovered in September as the prospect of interest rate reductions overshadowed weaker sentiment among miners and manufacturers, a private survey showed.



In South Korea, the central bank said that the nation's economy faces increased external risks and the finance ministry said it will step up efforts to boost growth. In Seoul, World Bank president Jim Yong Kim said he saw encouraging signs in Europe.

THE Georgia Ports Authority, centred on the Port of Savannah, says volume of cargo handled in July and August grew 5.6 per cent compared to the first two months of the previous fiscal year, with August posting 13.8 per cent growth in container throughput.

"Our deepwater ports achieved a good start for fiscal year 2013, despite a slow national economy. The ports of Savannah and Brunswick have established solid momentum to start our fiscal year," said GPA executive director Curtis Foltz.



The Port of Savannah handled 522,744 TEU over the first nine weeks of the 2012/13 fiscal year, representing growth of 4.4 per cent. August accounted for 270,614 TEU, the GPA's second-highest month for container throughput, behind only October 2010.



In tandem with the strong growth in tonnage, GPA rail cargo also saw a boost in numbers. Growth in intermodal activity was significant during August, and led to a record month, handling 29,364 intermodal rail moves.



"Greater reliance on rail movement is a strategic initiative of the GPA, allowing the Port of Savannah to increase capacity without putting more trucks on the road," said GPA board chairman Robert Jepson. "Rail transit is cheaper for long-distance hauls, requires less fuel and produces fewer emissions."



The Port of Brunswick achieved 48.4 per cent growth in total tonnage for the month of August at 199,141 tons, and 30.2 per cent growth on the fiscal year to date. Colonel's Island terminal in Brunswick moved 109,694 auto and machinery units in July and August, an increase of 37 per cent over the same period the previous fiscal.

HONG KONG's Chief Secretary Carrie Lam has announced that the Executive Council (ExCo) has approved in principle the setting up of a commission of inquiry into the ferry crash off Lamma Island on October 1 under the Commissions of Inquiry Ordinance.

Mrs Lam said the commission will inquire into the facts and circumstances leading to and surrounding the collision of two vessels, which resulted in the deaths of 39 people who were out to see the Autumn Festival fireworks over Victoria Harbour.



The commission will ascertain the causes of the accident and consider and evaluate the general conditions of maritime safety concerning passenger vessels in Hong Kong, and the adequacy of the present control system, reported the Hong Kong Government Information Service.



"It will also make recommendations on measures required to prevent the recurrence of similar incidents in future. It will not decide who has criminal or civil liability," said the government communique.



Mrs Lam said the law enforcement investigation will continue, and the commission may ask for information or reports to facilitate hearings. It may also summon people to testify.



"The commission of inquiry, which is independent, with these broad terms of reference, is in fact more relevant and appropriate in this tragic incident than a maritime court," she said.



Mrs Lam said ExCo, akin to a cabinet and appointed by the Chief Executive, may appoint one or more people as commission members, but generally such commissions have few members. The government is seeking "highly credible people to appoint" to the commission.



"Once they have been identified, the Executive Council will formally appoint the setting up of this commission of inquiry," she said.



The commission is expected to report to the Chief Executive within six months from the date of appointment, and it may also submit interim reports.