The headwinds facing industrial port markets in the first half of 2022 — including elevated dwell times for cargo ships, landside bottlenecks, and chassis shortages — appear to be easing, but growth expectations for 2023 may be tempered by inflation, ongoing supply chain issues, and resulting disruptions.

A new report from Cushman & Wakefield notes that the National Retail Federation is projecting lower port volumes in the second half of 2022 as many retailers stocked inventories early in preparation for the holiday shopping season. Shipments are also expected to slow as the overall economy slumps. Cargo ships are also likely to be congested for the near future thanks to a surge in empty containers in outbound traffic.

Cushman experts are also keeping a close eye on the ongoing West Coast port negotiations. While talks "have not yet had a substantial adverse effect on cargo shipments as a whole," should they "hit a stalemate and a slowdown or shutdown occur, the impacts could be felt by port operators and consumers across the country," the report predicts.  And although the White House recently stepped in to avert a potential strike by the nation's two largest rail unions, the deal is not a sure thing. Cushman analysts say the strike could stop intermodal service from some major ports to many key markets across the country and could cost the U.S. economy approximately $2 billion per day.