July container volumes into the U.S. hit a 26-month high and reached the third highest level on record, eclipsed only by the first- and second-highest volumes in May 2022 and March 2022, respectively, according to a report from logistics tech provider Descartes Systems Group.
In addition, ports handled that large volume with little impact on port transit time delays and largely negligible improvement or decline.
However, the future holds potential global supply chain volatility, due to factors like ongoing conflict in the Middle East, stalled labor negotiations at U.S. South Atlantic and Gulf Coast ports, and reduced port capacity as container volumes slowly return to the Port of Baltimore, Descartes said in its “August Global Shipping Report.”
By the numbers, July 2024 U.S. container import volumes increased 11.2% from June 2024 to 2,556,180 twenty-foot equivalent units (TEUs), marking the first time in 26 months that volumes have been above the 2.4 million TEU level that created port congestion and delays during the pandemic years. Versus July 2023, TEU volume was up 16.8%, and compared to pre-pandemic July 2019, it was up 16.3%.
“Despite July imports exceeding the 2.4M TEU level that has stressed ports and inland logistics in the past, overall port transit times in July decreased from June, which is positive for importers,” Jackson Wood, Director, Industry Strategy at Descartes, said in a release. “U.S. imports from China reached a record high 1,022,913 TEUs in July (up 14.7% over June and 25% over July 2023), which contributed to the significant growth in the month.”
