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☆ Imports from China to the US are rising at the highest rate since last fall
▼ + stars: | 2024-04-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Imports coming to the U.S. from China are experiencing a notable increase, according to new trade and logistics data. The first half of 2024 is expected to total 11.7 million TEUs (twenty-foot equivalent units), an increase of 11% from the same period last year. In 2023, imports were down from 2022 by almost 13%, totaling 22.3 million TEUs. By comparison, New York/New Jersey processed 7.81 million TEUs, Georgia 5.4 million TEUs, Virginia at 3.3 million TEUs, Charleston 2.5 million TEUs, Jacksonville 1.3 million TEUs, and Miami 1.25 million TEUs. The other reason for the recent container push is fears of a labor strike at East Coast and Gulf ports.

Persons: John Gold, Francis Scott Key, Jason Hilsenbeck, Drayage.com, Paul Brashier, Brashier Organizations: Future Publishing, Getty, Global, National Retail Federation, Hackett Associates, Francis Scott Key Bridge, Miami, ITS Logistics, CNBC, Baltimore, West Coast, U.S ., Port / Railroad, Longshoremen's Association, United States Maritime Alliance Locations: Taicang, Jiangsu province, China, U.S, Panama, Port of Baltimore, East Coast, New York, New Jersey, Georgia, Virginia, Charleston, Jacksonville, Port of Virginia, Norfolk, Baltimore, NY, NJ, Norfolk and New York, West, West Coast North, U.S . East Coast, West Coast, Los Angeles, Long Beach, Long, Gulf, East

The Global Port Tracker now expects U.S. container imports of 10.4 million 20-foot equivalent units (TEU) for the first half of the year, a reduction of nearly 4% from its prior forecast. If imports hit that new target, it would mark a 23% drop from the first half of 2022, according to the forecast released by the National Retail Federation and maritime trade consultancy Hackett Associates on Monday. Uncertainty spawned by high inflation, Federal Reserve interest rate hikes and recent bank failures are weighing on trade, Hackett Associates founder Ben Hackett said. "Our view is that imports will remain below recent levels until inflation rates and inventory surpluses are reduced," he said. Reporting by Lisa Baertlein in Los Angeles; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. Container Imports Tumbled Close to Prepandemic Levels in December
▼ + stars: | 2023-01-10 | by ( Paul Page | ) www.wsj.com time to read: +2 min

U.S. ocean imports closed 2022 extending a monthslong slide closer to prepandemic levels, according to a new report, leaving the shipping sector bracing for deeper declines in container volumes this year. U.S. container imports overall fell 2.8% last year from 2021, according to Descartes Datamyne figures, but the 28,276,129 containers were still 18.5% ahead of 2019 volumes. Bottlenecks at U.S. gateways have eased since last year, but new projections suggest shipping volumes will fall at an even steeper pace in the first half of this year. That would put trade behind the prepandemic levels and roughly equivalent to imports in early 2020, when Covid lockdowns crashed global shipping volume. “After nearly three years of Covid-19’s impact on global trade and consumer demand, import patterns appear to be returning to what was normal prior to 2020,” said Hackett Associates founder Ben Hackett.

☆ U.S. Container Imports Are Plummeting to Close the Year
▼ + stars: | 2022-12-15 | by ( Paul Berger | ) www.wsj.com time to read: +4 min

Big U.S. ports are reporting steep declines in inbound container volumes for November, signaling a downturn in goods imports is accelerating and adding to concerns over a deeper slowdown in 2023. The ports also handled about 98,000 fewer inbound boxes last month than in November 2019 and imports have been below prepandemic levels since September. Port of Los Angeles Executive Director Gene Seroka said the U.S. is seeing a slowing of imports. They also diverted goods to Gulf Coast and East Coast ports due to fears of a work slowdown as West Coast dockworkers negotiate a new multiyear labor agreement. The downturn is reaching East Coast ports, which have seen relatively strong trade as companies shipped around California’s congested gateways.

☆ Freight Operators’ Peak Shipping Season Is Crumbling
▼ + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com time to read: +7 min

The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas. Citi analysts say they expect a “weaker peak season and a large amount of uncertainty in terms of the magnitude of demand.”—Esther Fung and Liz Young contributed to this article.

☆ Freight Operators’ Peak Shipping Season is Crumbling
▼ + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com time to read: +6 min

The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. But a range of measures of shipping demand across the U.S. are sliding, freight rates are falling as a result, leading carriers to pull back capacity amid concerns a deeper downturn is coming. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas.

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