U.S. container import volumes surge amidst challenges

Descartes has released its March Global Shipping Report for logistics and supply chain professionals. In February 2024, U.S. container import volumes declined 6% from January but jumped 23.3% when compared to the same month last year.

“We would expect the month-over-month results to be smaller as February is a shorter month. The year-over-year results would indicate exceptional growth; however, they do not take into account the impact of the Chinese Lunar New Year on the February 2023 results,” Descartes claims.

The growth is still strong but, based upon Descartes’ analysis, it is more likely to be ~13%.

Impact on Long Beach

Compared to January 2024, imports from China reversed their robust growth in February, which impacted West Coast ports, especially the Port of Long Beach.

Lower import volumes benefitted port transit delays as the combination of the Panama drought and the Middle East conflict had less impact at the top East and Gulf Coast ports.

The March update of the logistics metrics Descartes is tracking shows that 2024 is starting off to be a strong year for U.S. container imports; however, global supply chain performance may be impacted throughout the year because of ongoing conditions at the Panama and Suez Canals and upcoming labour negotiations at U.S. South Atlantic and Gulf Coast ports.

“February 2024 was a strong month considering its brevity and continues the robust performance that started in January 2024,” said Chris Jones, EVP Industry and Services, Descartes. “The combined effect of the Panama drought and the conflict in the Middle East on transit times declined in February and volume for the Gulf Coast ports remained constant versus January.”

Read the full report HERE.