Via the Nikkei in Japan, an update on shipping volumes and freight. Lower for both!
- Container ships brought a volume of goods totaling 1.31 million twenty-foot equivalent units (TEU) from Asia to the U.S. in December, down 23% from a year earlier, U.S. logistics researcher Descartes Datamyne reports. This marked the third straight month that the figure fell by about 20%.
- shipping rates are sinking to three-year lows
- Inflation has eroded consumer purchasing power, softening demand for household goods and slowing ocean shipping, said an official at a container ship company
- retailers no longer stocking up inventories like they did during the height of the pandemic
More at that link above, may be gated.
----
Each month I update on a data point from New Zealand that also includes a look at global shipping. Its been indicating this for many, many months too. Most recently (earlier this week):
