Descartes Systems Group released its December Global Shipping Report for logistics and supply chain professionals. In November 2024, U.S. container imports fell 5% from October 2024, consistent with the seasonal month-on-month decline in previous years, but smaller than the 9% drop in the same period in 2023.
Imports from China also fell, although November imports were 13.3% higher than the same month in 2023, highlighting the continued strength of Sino-US trade. The December update of logistics indicators monitored by Descartes continues to show a strong performance for containerized imports in 2024; however, the possibility of new tariffs by the incoming Trump administration, the deadlock in ILA/USMX contract negotiations, and the ongoing conflict in the Middle East may put pressure on global supply chains for the rest of the year.
U.S. containerized imports in November totaled 2,368,758 twenty-foot equivalent units (TEUs), falling below 2.4 million TEUs for the first time in four months, a level that previously caused port congestion and delays during the pandemic (see Figure 1). Imports in November 2024 were 12.8% higher than in November 2023 and up a massive 24.6% from November 2019, before the pandemic. Notably, total imports for the first 11 months of 2024 (25,829,192 TEUs) have already surpassed the 12-month total (24,957,640 TEUs) for 2023—an increase of 871,552 TEUs or 3.5%.
“November is traditionally weaker than October; however, this year’s month-over-month decline was the smallest (down 125,877 TEUs) compared to the past six years (see Figure 2),” said Jackson Wood, Descartes’ director of industry strategy. “While there is potential for frontloading due to heightened uncertainty surrounding labor unrest and tariffs, U.S. container imports have been exceptionally strong during this peak season and overall will be strong throughout 2024. ”
https://mp.weixin.qq.com/s/eUvUPE1EsntKb6FzGIwhtQ
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