Changes in cargo flows

The Copenhagen-based maritime agency provider Sea-Intelligence recently published an analysis of the cargo streams on the North America West Coast (NAWC).

Compared to 2019, volume growth in 2022 stagnated during the first two months of the traditional Q3 peak season and showed an outright contraction in September 2022. This trend continued into October and November as well.

In fact, the growth rate has been on a downwards trend for some time, from a peak of 14.2% in March 2022 to 4.4% in June, and then briefly dropping below 0% in July to -0.7%, before declining again in September to -3.3%. This slump continued in October and November, with the growth rate dropping to -4.1% in November.

Current decreases in laden imports indicate that demand will continue to fall in 2023, with additional contractions expected during the Chinese New Year. (sh)