Container transport between the U.S. and Asia, especially China, is declining

U.S.-based Descartes Datamine has announced container transport volumes from Asia to the U.S. (outbound) and from the U.S. to Asia (inbound) for September and August, respectively. According to the report, the September volume from 10 major Asian countries/regions to the U.S. was 1,546,488TEU (-13.6% y/y), while the August volume from the U.S. to 10 major Asian countries/regions was 454,985TEU (-2.0% y/y). China, the largest destination from Asia, recorded a double-digit decline for the first time since May 2020, with 131,181 TEUs (-21.0%). U.S. originations were also on a downward trend, with declines to China, as well as Vietnam, India, and Thailand.