It may feel like volumes have begun to pick back up over the last couple weeks, but according to industry experts, we are a long way away from reaching 2019 numbers. China, Vietnam, India, Malaysia, and Bangladesh make up the region that is responsible for the world's manufacturing and apparel industries. The volume of containers moving along the intra-Asia trade lane will tell you the strength of the world's consumer. More volume means more demand for products, less volume means less demand. Based on year-over-year growth, we have had a 4 million twenty-foot equivalent units (TEU) volume plunge. This shows the hardship that the world is still facing that will translate into fewer containers being exported out of China to the United States and around the world. Check out the full article here .
Showing posts from June, 2020
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Volumes have been on a heavy decline since the outbreak of COVID-19. Even though we have begun to see some stabilization and many businesses and regions are beginning the reopening phases, we have not seen the sudden spike in volumes in the shipping industry as originally expected. With that being said, if you look at the numbers for May, it appears that China has become an even bigger importer for U.S trade than before. Hopefully, this means that we will start seeing the spike in volumes as the heavy imports into LA/LB are dispersed to various regions throughout the country. See the full article here .
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It seems as though everyone has felt the impact of COVID-19 and the dramatic decline of business. However, there may be a glimmer of hope for those that handle International, primarily ocean freight. With air rates significantly increasing and capacity decreasing, many shippers are turning to the ocean to move their cargo. This could mean a steady, or hopefully speedy, increase in volumes. Fingers crossed! See the full article here .