US container imports continue to show robust growth in 2024: Descartes

This was the second smallest May-to-June decrease in the previous six years, ignoring import volume performance during the 2020 pandemic.

Port transit delays at most US West Coast ports improved, while East and Gulf Coast ports experienced marginal increases.

July’s update of logistics metrics monitored by Descartes reinforces the strength of imports since the beginning of this year.

Despite strong US container imports, the risk of global supply chain disruptions remains high as the Middle East conflict and news of stalled labour negotiations at US South Atlantic and Gulf Coast ports threaten the stability of global trade, Descartes said in a note.

For the top 10 US ports, container import volume in June decreased by 59,625 TEUs, or 2.9 per cent MoM.

The ports of Los Angeles (up by 33,253 TEUs) and Charleston (up by 14,552 TEUs) experienced the greatest MoM container volume increases. The ports of New York/New Jersey (down by 59,933 TEUs) and Norfolk (down by 28,738 TEUs) posted the highest MoM volume declines.

Container imports from China remained flat MoM in June, but saw a 13.8-per cent YoY growth.

For the top 10 countries of origin, US container import volume in June declined by 5,182 TEUs, or 0.3 per cent MoM.

South Korea and Taiwan experienced the most growth, increasing by 4,672 TEUs and 3,952 TEUs, respectively. Imports from Germany (down by 8,845 TEUs) and Vietnam (down by 3,298 TEUs) experienced the greatest volume decreases in the month.

In June, container import volume share at West Coast ports grew MoM as East and Gulf Coast ports receded.

The total container import volume at the top East and Gulf Coast ports decreased to 41.4 per cent (down 0.7 per cent) of total container import volume, and the top West Coast ports increased to 44.6 per cent (up 2.5 per cent).

Compared to smaller ports, share at the top 10 ports in June this year fell slightly to 86.1 per cent (down 0.6 per cent).

The attacks and ongoing threats on shipping in the Red Sea by the Houthis from Yemen continue to force shippers to divert cargo that would traditionally move through the Suez Canal to longer and more expensive shipping lanes. Shipping concerns will likely increase if the Middle East is further destabilized, Descartes added.

Fibre2Fashion News Desk (DS)