LM    Topics     Logistics    3PL

Panjiva data points to steady September import levels


United States-bound imports saw another month of growth in September, according to data recently issued by global trade intelligence firm Panjiva.

Total September U.S-bound containerized freight imports—at 2,864,980 TEU (Twenty-Foot Equivalent Units)—was up 5.1% annually, which was down from August’s 11.2% annual increase. And September shipments posted a 17.4% annual gain compared to September 2019. Imports were up 4.4%, from July to August—trending down from July’s 14.3% annual spread. Despite the slowing of annual growth percentage, August’s TEU tally represented the second highest month on record, for U.S. shipments, with March 2021’s the highest, at 3,028,143 TEU.

Panjiva explained that the annual comparisons, to 2020, are now against a post-pandemic surge, as opposed to what it called lockdown lows, adding that September’s shipment tally upped the third quarter growth rate to 10.2% annually and up 15.3% compared to the third quarter of 2019.

“There was an average of 95,341 TEU per day in the quarter, and if imports remain at the average Q3 level, Q4 would show a 4.7% year over year growth rate, exceeding the record breaking 2020 holiday season,” observed Panjiva. “Importers may be hoping that more surge capacity remains untapped, however, as increased imports would likely alleviate some of the pressured facing industries that rely on strong holiday sales.”

On the product side, for September, Panjiva reported the following import numbers on an annual basis:

  • industrial shipments rose 4.3% annually and were up 19.4% compared to September 2019, with the construction and agricultural sectors up 23.8% and 43.8%, respectively, annually;
  • consumer discretionary shipments were down 0.3% annually, compared to the 2020 surge, and were up 22.2% compared to 2019, with Panjiva noting that the comparison to 2020 likely reflects the congestion importers are facing, resulting in the stopping, or slowing, of additional import growth at the aggregate level (leisure shipments, excluding toys, autos, and apparel shipments saw annual gains of 8.5%, 6.8%, and 7.8%, respectively, and toys were up 9.4% and 1.7% below 2019;
  • household appliances, home furnishings, and consumer electronics were down 8.2%, 8.6%, and 6.5%, respectively, compared to September 2020, with Panjiva saying those tallies may be an effect of strong lockdown and post lockdown demand for durables to make homes more comfortable for consumers; and
  • IT shipments were down 2.0% compared to 2020 and down 9.1% compared to 2019, while semiconductors and semiconductor managing equipment rose 84.8% and 64.7% compared to September 2020, with communication equipment, hardware, and components down 21.3%, 3.8%, and 9.0%, respectively, on an annual basis

For origin locations, Panjiva reported that U.S.-bound imports out of China were up 8.3% annually, with shipments from Asia, excluding China, were down 15.2%, and shipments from Europe down 14.6%.

Panjiva Research Director Eric Oak said in an interview that when monthly import levels are viewed against 2020, they are no longer up against what he called an exceptionally low period, and, instead, they are against an exceptionally high period.

“It is now against a different outlier, which is the import surge after the depths of the pandemic,” he said. “But we are still higher than that, with September up 5.1%, against September 2020, which was near record territory at the time. Imports are still up and still surging into the country as fast as they can as we all are seeing in logistics. Disruptions and congestion remain intact across multiple ports. Goods are coming into the U.S., and the question we are going to find out, as we get further into October and November, is whether it is going to be fast enough for retailers to meet the insatiable appetite of consumer demand.”


Article Topics

News
Logistics
3PL
Global Trade
Transportation
Ocean Freight
3PL
Global Trade
Logistics
Ocean Freight
Ocean Shipping
Panjiva
TEU
Transportation
   All topics

3PL News & Resources

GXO heralds debut of GXO Connect in the UK
Q&A: Michael Farlekas, CEO, e2open
MHI issues annual State of the Industry report at ProMat 2023
6 River Systems rolls out mobile fulfillment app to extend picking options outside of its AMRs
February intermodal volumes see annual declines, reports IANA
Q&A: Adam Satterfield, CFO, Old Dominion Freight Line
DSV announces acquisitions of S&M Moving Systems West and Global Diversity Logistics
More 3PL

Latest in Logistics

GXO heralds debut of GXO Connect in the UK
Yellow, Teamsters union butting heads a year before contract deadline
Industry stakeholders call on White House to aid in West Coast port labor talks
How to make sure your warehouse automation gives a high ROI
Gain Greater Visibility With ERP & TMS Integration
Q&A: Michael Farlekas, CEO, e2open
Three layers of forklift safety: Promoting operating best practices
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 Logistics Management 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.

March 2023 Logistics Management

March 14, 2023 · We speak with a number of logistics experts to capture their views on the overall impact that e-commerce is having on moving the nation’s freight. One thing is for certain: The current level and speed of churn has irrevocably altered the pattern so many had become accustomed to managing.

Latest Resources

How to make sure your warehouse automation gives a high ROI
Unlock Your Warehouse's True Potential with Automation - Learn the Essentials of Automating Your Warehouse for Maximum Return on Investment.
Gain Greater Visibility With ERP & TMS Integration
Three layers of forklift safety: Promoting operating best practices
More resources
 


Latest Resources

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...
2023 State of the Third-Party Logistics (3PL) Industry Report
2023 State of the Third-Party Logistics (3PL) Industry Report
In this year’s Third-Party Logistics State of the Industry Report, you’ll learn about our top trends for the year and...
2023 Rate Outlook Webcast: Will shippers catch a break?
2023 Rate Outlook Webcast: Will shippers catch a break?
In this annual webcast, group editorial director Michael Levans hosts our panel of logistics and freight transportation analysts who share their insights...