In April 2024, U.S. container import volumes rose by 3.0% from March and 9.3% year-on-year, indicating a strong economy despite global instability, according to Descartes Systems Group’s May Global Shipping Report.
After a notable drop in March 2024, Chinese imports rebounded April to match the levels from April 2023. Meanwhile, transit delays at major U.S. ports continue to decrease. The Panama drought and escalating Middle East conflict have had minimal impact on the volumes at East and Gulf Coast ports.
Despite a robust first quarter in 2024, the U.S. is expected to continue to face challenges from global supply chain disruptions. Ongoing issues at the Panama and Suez Canals, upcoming labor negotiations at U.S. South Atlantic and Gulf Coast ports, the ongoing Middle East conflict, and reduced U.S. port capacity due to the March collapse of the Francis Scott Key Bridge are all potential obstacles.
Compared to April 2023, the volume of U.S. container imports in April 2024 saw an impressive 9.3% increase. Furthermore, the April 2024 volumes represented a 3% rise from March 2024, totaling 2,208,849 twenty-foot equivalent units (TEUs).
Descartes’ April report suggested that the effects of the Chinese Lunar Year may have suppressed the growth in March 2024, which could explain the softer growth in April.
Compared to the pre-pandemic levels of April 2019, last month’s volume increased by 15.1%.
“Despite the March closure at the Port of Baltimore, U.S. imports showed strong performance in April, as they have since January 2024 as compared to 2023,” said Chris Jones, EVP Industry, Descartes. “Port delays also showed continued improvement in April, as volumes at East and Gulf Coast ports have experienced little impact from either the Panama drought or Middle East conflict.”
This article contains reporting from Reuters, published under license.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
Global container shipping rates extended their decline for a sixth consecutive week, dropping 1% to $1,919 per 40-foot container as the traditional pre-Lunar New Year cargo rush continues to disappoint...
CMA CGM is doubling down on India, having finalizing shipbuilding contracts with Cochin Shipyard Limited (CSL) for six LNG-powered containerships while launching a dedicated Research & Development hub in the...
Hapag-Lloyd has agreed to acquire ZIM Integrated Shipping Services for $4.2 billion in a deal that would cement its position among the world’s top five container carriers, expand its Transpacific footprint, and add significant LNG-powered capacity to its fleet.
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
