Summary
- China remains the highest volume country of origin for European imports, but the United States has seen a notable 3.5% increase in volume compared to 2023.
- Savannah, Norfolk, and Houston are the most utilized ports out of the United States for Europe. Pending labor negotiations could prompt a strike at these ports starting in October, which would cause a major disruption to peak season imports. project44 is actively monitoring negotiations and impacts for these ports.
- The Ports of Rotterdam, Hamburg, Antwerp, and Felixstowe continue to account for over 50% of all ports of discharge for imports into Europe and play an integral role in peak season.
Ocean Peak Season
The ocean peak season marks a crucial annual event for companies preparing to import freight ahead of the holiday shopping period. Traditionally spanning from August to October, this period has, in recent years, begun as early as June. This shift results from several factors, including more advanced planning and ordering processes to smooth supply chains, past delays due to COVID-19-related disruptions, and general increases in transit times due to ongoing tensions in the Red Sea. project44 diligently tracks emerging trends during this pivotal peak season.
Most Common Countries of Origin
The chart below shows the shifts in import volumes from certain countries to Europe during June and July of 2023 compared to 2024.
China remains a global manufacturing powerhouse, accounting for 44% of imports to Europe between June and July in both 2023 and 2024. However, the lack of increase in volume indicates that Europe is not increasing its manufacturing footprint in the country. Year-over-year import volumes have also decreased in India, Indonesia, South Africa, and Vietnam.
The largest increase in imports comes from the United States. In 2024, over 9% of all European import shipments observed by project44 for June and July originated from the U.S., marking a 3.5% increase compared to 2023. The “Other” category, comprising 24% of imports, also shows growth compared to 2023. While the listed countries represent the top 10 that project44 tracks, the increase in the “Other” category demonstrates that Europe is continuing to diversify its import sources.
Changes to Ports of Loading
The port of loading refers to the port where freight is loaded onto container vessels. The chart below illustrates trends in the top ports used for peak season volume in 2024 and how their share of peak volume has changed compared to 2023.
Overall, the top 15 ports have remained generally consistent, with Shanghai seeing the largest increase at 2% over 2023. Volumes from Houston, Norfolk, and Savannah have also risen, highlighting the primary ports utilized for the increasing U.S. imports. European shippers should note the potential for labor strikes starting in October, as negotiations with the union for East Coast and Gulf Coast ports are ongoing, with the current contract set to expire on September 30th, 2024. A failure to reach an agreement could cause significant disruptions to U.S. imports into Europe.
There has also been a 4% reduction in volume across all other ports. While this is not a large number given that it encompasses hundreds of ports, it underscores a strategic focus on working with specific ports rather than a larger number.
Changes to Ports of Discharge
The port of discharge refers to the port where freight is unloaded from container vessels. The chart below shows the trends in the top ports used for peak season volume in 2024 and how their share of peak volume has changed compared to 2023.
Overall, there have been no substantial year-over-year changes in the main ports of discharge for European imports. The Ports of Rotterdam, Hamburg, Antwerp, and Felixstowe continue to account for over 50% of all ports of discharge for imports into Europe.
Similar to the observations at ports of loading, the “Other” category has also decreased for ports of discharge. This reflects a trend where shippers build and develop supply chains around specific ports or regions, making it more cost-effective to consolidate shipments at fewer ports.
Summary
The 2024 ocean peak season highlights several significant trends in global shipping and logistics. Despite efforts to diversify manufacturing origins, China remains a dominant force, with no year-over-year increase in volume. The United States has seen growth in its trade relationship with Europe, but potential labor strikes could impact U.S. imports as contract negotiations continue through September.
About project44
project44 is on a mission to make supply chains work. Movement by project44, the only High-Velocity supply chain platform, enables shippers, LSPs and carriers across the globe to reduce costs, optimize operations, deliver an exceptional customer experience and drive greater resiliency and sustainability. Having built the industry’s largest and most connected ecosystem, project44 provides visibility into over 1 billion shipments annually for over 1,300 of the world’s leading brands.
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Disclaimer: The information conveyed herein, shared solely for summary and not contractual purposes, comes from both project44 and third-party reporting. The project44 data does not include all available market information, and project44 has not undertaken to independently verify the third-party reporting. Similarly, this type of data changes from day-to-day. Accordingly, the reader should not rely on this reporting to make any business decisions, and project44 expressly disavows any liability arising from any such reliance.
