We are not totally convinced that there will be a cyclical deceleration of shipping into and out of the US. Although the post-pandemic normalization has been real and painful, the predominant driver of the US economy remains consumption. It accounts for 68% of total GDP (including services), with several trillion dollars spent on tangible goods consumption.
Americans may stop consuming goods at current levels, which would affect the demand side, but would also buck a long-term trend. The supply side could be dented by reshoring initiatives. However, the majority of products will still be made elsewhere, although maybe not all made in one country. We expect a proliferation of manufacturing hotspots around the globe. And for those commodities that are reshored, there will still be raw material imports and/or finished product exports.
Ports should always consider the potential of a downturn and take care of customers as such. Growth can be facilitated if there is a sincere interest in offering anticipatory service, in caring about customers' needs and in honing their competitive economics.