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Record container shipping in August as post-COVID consumer surge continues

China 2527 Cons. Discr. - Durables 301 Consumer Staples 589 Coronavirus 377 European Union 627 Industrials - Capital Goods 439 Materials - Construction 93 Trade Balance 847 U.S. 4472 Vietnam 273

U.S. seaborne imports hit a record high in August after containerized freight shipments rose by 5.9% year over year, breaking through 2.7 million TEUs for the first time. That was largely down to a 14.3% surge in shipments from China while imports from Asia ex-China increased by a more modest 4.0%. Much of the recovery has been driven by consumer goods in the wake of COVID-19 with discretionary product imports up by 16.1% and staples rising by 34.9% on stronger food and personal care shipments. Industrial demand is also improving with imports up by 4.4%. The represented a balance between...

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