ATLANTA, Georgia, December 12, 2022 -- Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, released its November report on the ongoing global shipping crisis and for logistics and supply chain professionals. The report shows that November U.S. container import volumes declined to close to November 2019 levels. Port delays continue to decrease, but major East and Gulf Coast ports still have extended wait times versus major West Coast ports. Key economic indicators during this period paint a conflicting picture about their impact on future import volumes and, combined with COVID, the Russia/Ukraine conflict and the West Coast labor situation, continue to point to further disruptions and challenging global supply chain performance going into 2023.
November 2022 U.S. container import volumes declined 12.0% from October to 1,954,179 TEUs (see Figure 1). Versus November 2021, TEU volume was down 19.4%, and only 2.8% higher than pre-pandemic November 2019. Note that November is a shorter month (30 days) and contains the U.S. Thanksgiving holiday, both of which can negatively impact container import volumes.
“Comparing fall imports in 2022 to the previous six years, November would have been expected to be lower than October (see Figure 2); however, November 2022 had the greatest October-to-November decline since 2016 at 12%,” said Chris Jones, EVP Industry & Services at Descartes. “The November U.S. container import data reaffirms that the pressure on supply chains and logistics operations has begun to lift, but there are still a number of issues that may cause further disruptions in 2023.”
The December report is Descartes’ seventeenth 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.
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.
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 may 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