Rapidly, the scanerio in ocean contaner shipping has chaging idramatically.
As seen in the chart below, based on data from Descartes Systens, over the last several months US container imports have fallen sharply year-over-year, down nearly 20% in October, the last month for which Descartes has data.
Source: Wall Street Journal
With those falling volumes, other things have also disappeared, such as huge container ship queues wating in the ocean for a berth to unload and rates that soared to record highs.
So that's good news for importers, right?
Yes and no. Costs and wait times are way down for sure. But perhaps at the price of a global economic slowdown that will cause many other problems.
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