November saw U.S. import volumes fall by 9%, impacted by seasonal changes and Panama Canal disruptions. Despite this, imports still surpass pre-pandemic levels, with West Coast ports regaining market share. TLC is closely monitoring these market shifts to optimize our logistics solutions for our clients, ensuring smooth cargo movement in a challenging environment.
FTL:
U.S. imports experienced a 9% dip in November compared to October, attributed to seasonal trends and challenges at the Panama Canal. Despite this downturn, import volumes remain above pre-pandemic levels, with a 7.4% increase from last November and consistent growth compared to the years 2017-2019. The decline, particularly from China, which accounted for over a third of total volumes, has impacted East and Gulf Coast ports the most. West Coast ports, however, are regaining market share as labor concerns ease and Panama Canal issues redirect traffic. This shift and the overall import reduction are putting additional pressure on spot rates, as ocean carriers grapple with overcapacity and new vessel deliveries. Amidst these fluctuations, TLC is actively assessing the evolving logistics landscape to provide our clients with efficient and strategic solutions, ensuring their cargo moves effectively despite market challenges.
