October Monthly Container Import Volumes Remain Above 2.4M TEUs, Straining U.S. Maritime Logistics

For four consecutive months, U.S. container imports have surpassed 2.4 million twenty-foot equivalent units (TEU)—a threshold that has historically strained U.S. maritime logistics. In October 2024, U.S. container imports totaled 2,494,635 TEUs, a slight 1% decline from September’s 2,520,935 TEUs and just 2.4% lower than this year’s high of 2,556,180 TEUs in July.  

In October, U.S. container imports from China reached 960,016 TEUs, marking the fifth month in 2024 where import volumes from the country exceeded 900,000 TEUs. This trend underscores the strength of U.S.-China trade in 2024, especially compared to 2023 when monthly imports never surpassed the 900,000 TEU mark. Since reaching a record high of 1,022,913 TEUs in July 2024, imports from China declined by 6.1% in October, yet they remain 8.3% higher than in the same month last year. 

The November update from Descartes on logistics metrics underscores the continued strength of container imports in 2024. However, U.S. importers may face ongoing challenges as USMX/ILA contract negotiations continue, port delays worsen, and the ongoing conflict in the Middle East contributes to global supply chain disruptions. These factors are expected to fuel supply chain volatility throughout the remainder of the year. 

October imports reached 2,494,635 TEUs, marking the fourth consecutive month in 2024 with container volumes exceeding 2.4 million TEUs—a level that led to port congestion and delays during the pandemic (see Figure 1). Versus October 2023, TEU volume was higher by 8.1% and up a significant 20.5% over pre-pandemic 2019. For the first 10 months of 2024, import volumes have grown by 13.1% over the same period in 2023 and by 16.9% over the same period in pre-pandemic 2019. By contrast, import volumes for the first 10 months of 2023 grew by just 3.4% over pre-pandemic 2019, underscoring again the impressive performance of container imports in 2024. 

Figure 1: U.S. Container Import Volume Year-over-Year Comparison 

Source: Descartes Datamyne™

In the previous six years, import volume increased from September to October, due in part to October being one day longer and having no major holidays. October 2024 volumes, however, reversed this trend, albeit with a modest 1% drop over September. While October volumes remain elevated, this slight decrease could stem from contingency planning for labor unrest at East and Gulf Coast ports and more front-loading of volumes by U.S. importers from August through September (see Figure 2). 

Figure 2: September to October U.S. Container Import Volume Comparison 

Source: Descartes Datamyne™ 

In October 2024, container import volumes at the top 10 U.S. ports declined by 25,112 TEUs, a 1.2% decrease compared to September 2024 (see Figure 3). The ports of Long Beach (up 30,222 TEUs), Houston (up 7,327 TEUs), and Tacoma (up 2,925 TEUs) saw the largest gains. In contrast, the ports of Los Angeles (down 39,062 TEUs), Norfolk (down 14,963 TEUs), and Charleston (down 8,791 TEUs) experienced the most significant month-over-month declines. 

Figure 3: September 2024 to October 2024 Comparison of Import Volumes at Top 10 U.S. Ports 

Source: Descartes Datamyne™ 

In October 2024, U.S. import volume from China reached 960,016 TEUs, a 3.0% decline (28,534 TEUs) from September and 6.1% lower than the peak in July 2024 (1,022,913 TEUs) (see Figure 4). Year-over-year, October imports from China increased 8.3%, reflecting the overall upward trend in 2024. The top two commodity categories (HS-2 codes) for October 2024 remained consumer goods: HS-94 (Furniture, Bedding, etc.) and HS-95 (Toys, Games, and Sports Equipment, etc.). China accounted for 38.5% of total U.S. container imports in October, a 0.7% decrease from September and 3.0% below the February 2022 peak of 41.5%. 

Figure 4: October 2023–October 2024 Comparison of U.S. Total and Chinese TEU Container Volume Relative to Chinese Import Record

Source: Descartes Datamyne

In October 2024, U.S. container import volume from the top 10 countries of origin (CoO) fell by 36,450 TEUs, representing a 2% decline from September (see Figure 5). Among these countries, Japan (up 11,841 TEUs) and India (up 5,141 TEUs) experienced the largest volume increases. In contrast, China (down 29,409 TEUs), South Korea (down 7,807 TEUs), and Taiwan (down 7,443 TEUs) recorded the most significant volume decreases. 

Figure 5: September 2024 to October 2024 Comparison of U.S. Import Volumes from Top 10 Countries of Origin 

Source: Descartes Datamyne

For the fifth consecutive month, the top five West Coast ports continued to capture a larger share of container import volumes compared to their East and Gulf Coast counterparts. October data reveals only slight shifts in distribution: the West Coast’s share edged up from 45.7% in September to 45.8% in October, while the East and Gulf Coast ports’ share dipped slightly from 39.6% to 39.4%. Overall, the dominance of the top 10 ports remained steady, with their combined share of total container imports slipping only marginally from 85.3% in September to 85.2% in October (see Figure 6). 

Figure 6: Volume Analysis for Top Ports, West Coast Ports and East and Gulf Coast Ports 

Source: Descartes Datamyne

As a potential result of the brief ILA strike at the beginning of the month, East and Gulf Coast port delays extended while, overall, delays worsened for seven of the top 10 U.S. ports. Transit delays at the West Coast ports of Long Beach, Oakland, and Tacoma saw marginal improvements. The East Coast’s Port of Savannah saw the largest rise, with transit times increasing by 1.5 days—from 7.5 days in September to 9.0 days in October. Meanwhile, the Port of Tacoma showed the most improvement, reducing delays by 0.4 days, bringing transit times down from 7.5 days in September to 7.1 days in October.  

Figure 7: Monthly Average Transit Delays (in days) for the Top 10 Ports (Aug. 2024 – Oct. 2024) 

Source: Descartes Datamyne™

Note: Descartes’ definition of port transit 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 data.

On news that Israeli shipping companies are selling assets to other companies, Yemen Houthis reinforced their commitment to maintaining their Red Sea blockade. With shipping attacks and threats, the conflict in the Middle East continues to divert carriers away from the Suez Canal to the Cape of Good Hope, raising carrier costs. Shipping concerns will likely increase if the Middle East is further destabilized. 

Gulf Coast imports grew for the third month in a row, increasing by 1.9% in October (230,832 TEUs) over September (226,458 TEUs) (see Figure 8). Port transit times at Gulf Coast ports worsened in October, with delays increasing by 13% overall. 

Figure 8: November 2023 to October 2024 U.S. Gulf Coast Container Imports 

Source: Descartes Datamyne™

On October 1, nearly 50,000 members of the ILA went on strike across South Atlantic and Gulf Coast ports. On October 4, a tentative agreement was reached to extend the collective bargaining period until January 15, 2025; subsequently, ILA workers returned to work on October 4. On October 25, USMX and ILA announced in a joint statement that they will resume contract discussions in November on outstanding issues. Likely a result of the short labor disruption, October’s data shows longer port transit delays at East and Gulf Coast ports compared to September, and that the top five West Coast ports gained a marginal increase in volume share over the top five East and Gulf Coast ports. 

U.S. container import volume remained above the 2.4 million TEU mark in October 2024 while decreasing slightly from September volumes. The economy continues to exceed expectations, however, a fourth month of elevated container import volumes combined with increasing port delays and the ongoing conflict in the Middle East may create challenges for global supply chains. Here’s what Descartes will be watching for the remainder of 2024: 

• Monthly TEU volumes between 2.4M and 2.6M. This level will continue to stress ports and inland logistics until infrastructure improvements are made. With four consecutive months of elevated volumes, ports may be beginning to show signs of stress.  
• Port transit wait times. If they decrease, it’s an indication of improved global supply chain efficiencies or that the demand for goods and logistics services is declining. October 2024 transit delays increased at the majority of top 10 U.S. ports largely due to elevated import volumes over the past four months. The most significant increases were seen at East Coast ports. 
• Expanded tariffs and other potential ‘protectionist’ trade policies*. Depending on the short- to medium-term political priorities of the incoming Trump administration,  there may be broader and deeper tariffs applied to a wide array of goods imported by the U.S. This could compel U.S. importers to significantly re-engineer their supply chains, putting additional pressure on global logistics infrastructure. 
• The economy. The U.S. is an import-driven economy, so economic health is an important indicator of container import volumes. Following the September Federal Open Market Committee (FOMC) meeting, the Federal Reserve borrowing rate was lowered 50 basis points to 5.1% while reported inflation was 2.5%. According to the Bureau of Labor Statistics August employment report, the unemployment rate remained mostly unchanged at 4.2% while employers added 142,000 jobs. The next FOMC meeting is scheduled for November 6-7. 
• Middle East conflict. Houthi attacks are continuing to influence carriers to forego the Suez Canal, extending transit times around the Cape of Good Hope. The impact of diversions away from the conflict is still minimal on volumes or transit delays for East and Gulf Coast ports.   
• ILA/USMX contract negotiation. While job action has been halted at East and Gulf Coast ports, negotiations are ongoing, so it will be important to monitor these actions until a final contract is ratified. 

*New with this month’s report. 

October U.S. container imports volumes reflect the continued robust performance seen throughout 2024. With a fourth consecutive month of elevated volumes, port transit delay times increased at the majority of top 10 U.S. ports compared to September. ILA/USMX negotiations remain ongoing until a final contract is reached, which is targeted for January 15, 2025. The ongoing conflict in the Middle East is creating pressure on global supply chains that could cause disruptions throughout the remainder of 2024. Descartes will continue to highlight key Descartes Datamyne, U.S. government and industry data in the coming months to provide insight into global shipping.   

Short-term: 

• Monitor port volumes and delays to assess trade disruptions as imports remain between the 2.4M and 2.6M levels that have historically stressed U.S. maritime logistics infrastructure. 
• Track the Middle East conflict as carriers divert shipping around Africa, impacting shipping capacity and timeliness. 
• Evaluate the impact of inflation and the Russia/Ukraine and Israel/Hamas conflicts on logistics costs and capacity constraints. Ensure that key trading partners are not on sanctions lists.   
• Consider modelling the impacts of increased tariffs on imported goods, and whether a change in sourcing strategy could mitigate potentially higher costs. 

Near-term:  

• For companies that have cargo moving through the Suez Canal, evaluate the impact of extended rerouting caused by Middle East conflicts. 

Long-term:  

• Evaluate supplier and factory location density to mitigate reliance on over-taxed trade lanes and regions of the globe that have the potential for conflict. Density creates economy of scale but also risk, and subsequent logistics capacity crisis highlights the downside. Conflicts do not happen “overnight” so now is the time to address this potentially business disrupting issue.