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SeafoodSource helps keep a close eye on the foreign shipping industry by compiling a normal summary of updates on shipping ports.
The number of boxes shipped to the U. S. The U. S. economy has declined, but still remains above pre-pandemic levels.
According to Freightwaves, the continuous month-over-month increase in containers entering the U.S. has ended due to seasonality in combination with poor conditions at the Panama Canal.
In total, U. S. ports handled 2,099,408 twelve-foot containers in November, down 9% from October.
“Regardless, the drought in Panama appears to be affecting the volume of U. S. container imports at East Coast and Gulf Coast ports, which could worsen with the Panama Canal Authority’s plans to further reduce the number of daily transit slots in the coming months. ” said Descartes, Executive Vice President of Industry and Services, Chris Jones.
U. S. imports from China declined 11. 7% from October, with Chinese export relief accounting for some of last month’s monthly drop domestically. Despite the decline, imports from China still accounted for 37. 3% of the total U. S. volume, Freightwaves said.
Despite the downturn, from January to November imports were up 4 percent compared to the same period of 2019, before Covid-19.
According to marine logistics company Container xChange, there is instability in ship inventories, shipping, and capacities in the maritime sector as we approach 2024, especially in the euro area.
“We have a toxic combination of a seriously unbalanced container industry with a peak of overstocking in Europe and, at the same time, unreliable transport services, which run out of vessel capacity to reposition empty containers, making the situation even more difficult. Christian Roeloffs, Container xChange CEO said in a statement.
There are about 150,000 surplus shipping boxes in Russia, and the largest demand for boxes is shipped to China.
Many Chinese companies are also selling boxes below market value to get rid of leftover boxes, with offers from Moscow to Shanghai for around 1,500 euros ($1,648), according to Container xChange.
“If ship-worthy boxes are in good condition and charge less, they prefer to sell them on the local market,” Container xChange said.
Photo courtesy of Jose Mario Espinoza/Shutterstock
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