U.S. Import Surge Driven by China Strains Major Ports Amid Rising Delays
October 2024 witnessed a surge in U.S. container imports, reaching 2,494,635 TEUs (twenty-foot equivalent units), according to the latest Descartes Systems Group Global Shipping Report. This marks the fourth straight month with volumes surpassing 2.4 million TEUs—a threshold that has historically stressed U.S. port logistics.
October’s figures reflect an 8.1% year-over-year increase and a notable 20.5% jump from pre-pandemic 2019. Year-to-date, imports are up by 13.1% compared to 2023 and 16.9% over 2019 levels. These elevated volumes emphasize the robust performance of U.S. imports throughout 2024, especially when compared to the modest 3.4% growth over 2019 observed in early 2023.
However, the spike in imports brings logistical challenges. October saw transit delays rise at seven of the top ten U.S. ports, as East and Gulf Coast facilities dealt with a three-day International Longshoreman’s Association (ILA) strike. “With four months of high import volumes, port operations are showing strain, as transit delays increased at the majority of top U.S. ports in October,” said Jackson Wood, Director of Industry Strategy at Descartes.
China continued as the leading source of U.S. imports, with October marking the fifth consecutive month of volumes over 900,000 TEUs, reaching 960,016 TEUs. “This sustained trend highlights the strong 2024 trade ties between the U.S. and China, particularly given that monthly imports never exceeded 900,000 TEUs in 2023,” Descartes noted.
The report also noted a slight shift in import distribution among coasts, with the West Coast marginally increasing its share to 45.8% in October, while East and Gulf Coast ports saw a minor decline. This coastal shift reflects an ongoing preference for West Coast facilities amid the high-volume import season.
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