ATLANTA, Georgia, May 8, 2023 – Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, released its May Global Shipping Report for logistics and supply chain professionals. U.S. container import volumes in April 2023 increased significantly from March 2023, largely driven by a surge in imports from China; April volumes also kept pace with pre-pandemic 2019 volumes. Despite overall volume increases, delays were reduced significantly at all ports. Imports from China reversed their downward trend and are up 26.7% over March 2023. The West Coast labor negotiations appear to be progressing, but the contract has still not been finalized. The May update of the logistics metrics Descartes is tracking shows continued consistency with pre-pandemic import volume seasonality and signs that a number of the challenges to global supply chain performance in 2023 are abating.
April 2023 U.S. container import volumes increased 9.0% from March 2023 to 2,020,197 TEUs (see Figure 1). Versus April 2022, TEU volume was down 17.8%, but up 5.3% from pre-pandemic April 2019. The strong growth in container import volume in April continued to track to 2019 volumes for the first four months of 2023 with a difference of 1.5% for the same period in each year.
“Container import volumes from China, which had been in decline since August 2022, rebounded dramatically in April 2023, representing 82% of the increase in volume from the top 10 countries importing into the U.S. (see Figure 2),” said Chris Jones, EVP Industry Descartes. “Despite the volume increase in April 2023, port transit delays were much lower compared to March 2023 and, overall, port transit times are at their lowest since Descartes began tracking them in 2021.”
The April report is Descartes’ twenty-second 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 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, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of 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.
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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-report-march-2023-april-us-import-volume-increase-significantly-on-rebound-in-china-shipments
