U.S. Import Volumes in March 2024
Last month, U.S. container import volume statistics for March 2024 show a slight increase (0.4%) from February but a substantial increase from March 2023 (15.7%).
When it comes to the top 10 U.S. ports, container import volumes in March saw some decreases in TEUs.
Per data from Descartes, the Port of New York/New Jersey saw an increase of 15,295 TEUs, Port of Norfolk an increase of 6,819 TEUs, and Port of Tacoma an increase of 8,592 TEUs.
While the Port of Los Angeles saw a decrease of 31,997 TEUs and the Port of Baltimore saw a decrease of 6,829 TEUs – which could partly be due to the collapse of the Francis Scott Key Bridge that occurred on March 26th.
Volumes via Rail from China to Europe Expected to Have Increased in Q1
When official numbers have yet to be released, some industry stakeholders have said they expect rail volumes from China to Europe in the first quarter to have increased.
The increase was due in part to the extra miles and days it takes to go around the Cape of Good Hope; due to the disruption in the Red Sea, some cargo has had to divert from the Suez Canal.
Some shippers who have cargo they need urgently, have been seeking out different options. Whether that’s air freight, sea-to-air- services via Dubai or Colombo, or to the rails. Which is why an expected increase in volumes via rail from China to Europe, is a likely thought.