ATLANTA, Georgia, October 10, 2022 -- Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, released its October report on the ongoing global shipping crisis and analysis for logistics and supply chain professionals. The report shows that a slowing economy, retailers reducing purchases, inflation and high fuel costs are finally making an impact on U.S. container imports. The decrease in September import volumes did not, however, have a measurable impact on port delays, especially for East and Gulf Coast ports, which continues to point to congested and challenging global supply chain performance for the rest of 2022.
Container imports into the U.S. in September retreated 11.0% versus September 2021 to 2,215,731 TEUs, though volume was still up 9% from pre-pandemic September 2019. September 2022 volume was also down significantly versus August 2022 with a 12.4% decline (see Figure 1). China was a significant contributor to the decline as Chinese imports in September were down 18.3% to 820,329 TEUs compared to August 2022 and down 22.7% versus September 2021.
“This is the first month that U.S. container import volumes are seeing the effects of market headwinds, but we haven’t yet seen a similar reduction in port waiting times, which would help improve global supply chain performance (see Figure 2),” said Chris Jones, EVP Industry & Services at Descartes. “The decline in Chinese imports was the greatest driver of the overall decrease in U.S. imports and was felt the most on West Coast ports as most East and Gulf Ports continued operating at higher overall volumes.”
Note: Descartes’ definition of port delay is the difference as measured in days between the Estimated Arrival Date, which is initially declared on the bill of lading, and the date when Descartes receives the CBP-processed bill of lading.
The October report is Descartes’ fifteenth installment since beginning its analysis in August 2021. To read past reports, learn more about the key economic and logistics factors driving the global shipping crisis, and review strategies to help address it in the near-, short- and long-term, visit Descartes’ Global Shipping Crisis Resource Center.
About Descartes
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.
Global Media Contact
Cara Strohack
Tel: +1(800) 419-8495 ext. 202025
cstrohack@descartes.com
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relate to Descartes' solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that September cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, "Certain Factors That September Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes most recently filed management's discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information September not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
https://www.descartes.com/home
