January import levels remain in familiar territory to start 2022, reports Panjiva


United States-bound imports and shipments largely saw gains in January, according to data recently issued by global trade intelligence firm Panjiva.

Total January U.S.-bound containerized freight imports—at 2,669,536 TEU (Twenty-Foot Equivalent Units)—were down 0.2% compared to December and down 1.37% annually. And for U.S.-bound shipments, Panjiva reported that January shipments—at 1,330,698—were off 0.5% compared to December and up 12.12% annually.

Panjiva said that January’s import tally continues what may be viewed as what it called a “post-holiday shipping hangover as carriers and ports continue to process backlogs. And it added that the annual shipment increase was below December’s 15% annual spread, which it said likely represents less than container load volumes and fragmented logistics for shippers when viewed against TEU figures it described as relatively static.

In an interview, Panjiva Research Director Eric Oak said even though there was a sequential decline, the January tally could have been worse.

“Had it been a higher January than compared to previous years, that means there is lots of backlog being pushed into the system,” he said. “The real signal will come from February and March, when we see how the Lunar New Year cycle looked and if carriers were able to clear the backlog. The first quarter will be the gauge.”

When looking at current import and shipment trends, Oak said that that shippers have adapted their logistics networks, on the heels of more than a year of “an extraordinary time, in terms of supply chains.” And he added that with container shipping being cyclical, there eventually will be a downturn at some point.

That has been evident, as shown by Maersk’s recent acquisition of Pilot Freight, a moved geared towards expanding its logistics and last-mile footprints and end-to-end services.

“There are signs we could be approaching a potential reversal, but it remains too early to say to specifically tell from the data,” he explained. “It would be a combination of factors, like inflation, and a shift in U.S. consumer preferences, from services to goods. If we start to see some of those things all combine into a less demand-driven environment, it is likely with the basic economics of supply and demand that volumes might start to fall.”

Looking at imports for specific sectors, Panjiva reported the following for January:

  • toys increased 37.4% annually and were up 51.1% over 2020, with other leisure products down 34.4% annually, possibly reflecting that higher levels of durable goods consumption were pandemic-driven;
  • household appliances were up 55.6% over 2020 and down 11.0% annually, likely driven by the same factors as toys and leisure imports;
  • IT imports fell 11.6% annually, driven by the semiconductor shortage; and
  • Consumer staples and materials imports dropped 13.5% and 4.2%, respectively, on an annual basis and were in line with 2020 levels

Article Topics

News
Transportation
Ocean Freight
Imports
Ocean Freight
Ocean Shipping
Panjiva
Shipments
TEU
Transportation
   All topics

Ocean Freight News & Resources

Q&A: Cary Davis, American Association of Port Authorities President and CEO-elect
August U.S.-bound shipments see another month of declines, reports S&P Global Market Intelligence
LM reader survey points to strong possibility of the economy entering into a recession
Amid a muted Peak Season, POLA and POLB volumes are mixed in August
New Descartes’ report shows slight import gains, from July to August
C.H. Robinson announces opening of new Port of Laredo cross-border facility
Navigating the Panama Canal drought: ways to get your shipments Moving
More Ocean Freight

Latest in Logistics

Uber Freight heralds various new customer-focused supply chain technology offerings
U.S. rail carload and intermodal volumes are up, for week of September 23, reports AAR
FTR Shipper Conditions Index takes a step back, from June to July
Prologis and Home Depot leadership address the capabilities of AI for logistics
ShipStation report examines holiday season shopping preferences
UPS preps to acquire MNX Global Logistics
Prologis research paper examines impact of various technologies on logistics real estate efficiency
More Logistics

About the Author

Jeff Berman's avatar
Jeff Berman
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review and is a contributor to Robotics 24/7. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis.
Follow Modern Materials Handling on FaceBook

Subscribe to Logistics Management Magazine

Subscribe today!
Not a subscriber? Sign up today!
Subscribe today. It's FREE.
Find out what the world's most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today.

September 2023 Logistics Management

September 6, 2023 · Logistics operations are facing a human capital crisis that poses a threat to both performance and competitiveness. In this year’s study, our authors explore how organizations can compete for talent in an increasingly limited talent pool; how organizations are competing in an increasingly dynamic business environment; and examine the technologies that shippers now need to use to stay ahead of the curve.

Latest Resources

Do More with the Same in Logistics and Distribution
Download this new white paper to learn best-practice strategies that can help your company do more with the same — optimizing your workforce to weather the current economic climate and pave a successful path forward.
Managing Global Complexity for the Long Term
Motor Freight Special Issue: Finding a way back to “normal”
More resources

Latest Resources

Driving ROI with Better Routing, Scheduling and Fleet Management
Driving ROI with Better Routing, Scheduling and Fleet Management
Improve efficiency and drive ROI with better vehicle routing, scheduling and fleet management solutions. Download our report to find out how.
Your Road Guide to Worry-Free Shipping Between the U.S. and Canada
Your Road Guide to Worry-Free Shipping Between the U.S. and Canada
Get expert guidance and best practices to help you navigate the cross-border shipping process with ease. Download our free white paper today!

Warehouse/DC Automation & Technology: It’s “go time” for investment
Warehouse/DC Automation & Technology: It’s “go time” for investment
In our latest Special Digital Issue, Logistics Management has curated several feature stories that neatly encapsulate the rise of automated systems and...
Why accurate, real-time location data is a must for efficient operations
Why accurate, real-time location data is a must for efficient operations
Find out how next-generation workforce management apps use accurate, real-time location data to power successful operations in this webinar with Radar CEO...
Should you lease or buy your lift truck fleet?
Should you lease or buy your lift truck fleet?
Leasing critical equipment like lift trucks can offer flexibility, but some lease terms can be complex and costly if you’re not...