ATLANTA, Georgia, November 7, 2022 -- Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, released its November report on the ongoing global shipping crisis and for logistics and supply chain professionals. The report shows that October U.S. container import volumes were consistent with September despite another decrease in Chinese import volumes. Port delay reductions did show signs of progress, but major East and Gulf Coast ports still have extended wait times versus major West Coast ports. Key economic indicators during this period paint a conflicting picture about their impact on future import volumes and, combined with remaining port delays and the West Coast labor situation, continue to point to congested and challenging global supply chain performance for the rest of 2022.
October 2022 U.S. container import volumes were up marginally (0.2%) to 2,220,331 compared to September 2022 (see Figure 1). Versus October 2021, volume was down 13.0%, but still 7.2% higher than pre-pandemic 2019. The downward trend continued in October for U.S. container imports from China to 775,258, a reduction of 5.5% versus September and down 22.8% from the 2022 high in August.
“Comparing fall imports in 2022 to previous years (excepting 2020), we would have expected October volumes to be higher than September’s, but that did not happen; however, it is too early to say whether container imports will follow previous end-of-year declines,” said Chris Jones, EVP Industry & Services at Descartes. “The continued overall reduction in port delays is a good sign (see Figure 2), but the major East and Gulf Ports have yet to lower wait times substantially because they are still operating at higher overall import volumes.”
Note: Descartes’ definition of port delay is the difference as measured in days between the Estimated Arrival Date, which is initially declared on the bill of lading, and the date when Descartes receives the CBP-processed bill of lading.
The October report is Descartes’ sixteenth installment since beginning its analysis in August 2021. To read past reports, learn more about the key economic and logistics factors driving the global shipping crisis, and review strategies to help address it in the near-, short- and long-term, visit Descartes’ Global Shipping Crisis Resource Center.
About Descartes
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relate to Descartes' solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that September cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, "Certain Factors That September Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes most recently filed management's discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
https://www.descartes.com/resources/knowledge-center/global-shipping-crisis-october-us-container-volumes-consistent-but-port-delays-declining
