CHINA's US-bound container cargo fell 21 per cent in October year on year to 876,786 TEU, reports Tokyo's Nikkei Asia.
The US has made a dramatic shift, with fewer vessels departing China and more leaving from Southeast Asia, reflecting changing consumption patterns in the wake of the Covid crisis and deteriorating Sino-American ties, Nikkei Asia noted.
The October decline followed a 13 per cent decrease in September, when volume fell below the one million TEU mark for the first time in 13 months to 932,973.
In contrast, shipments from members of the Association of Southeast Asian Nations (ASEAN) are growing, jumping 22 per cent to 415,251 TEU in October after rising 23.1 per cent to 402,882 the previous month. The growth results from a rebound from weak exports due to Covid-related production suspensions.
Overall, freight shipped from Asia to the US fell nine per cent year on year in October, following a three per cent decline in September, according to the Tokyo-based researcher Japan Maritime Centre.
Demand in the US ahead of the holiday shopping season is softer than usual this year as retail stores stockpiled inventories during the Covid crisis.
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