ATLANTA, Georgia, May 17, 2022 (GLOBE NEWSWIRE) -- Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, released its May report on the ongoing global shipping crisis and analysis for logistics and supply chain professionals. The report shows another record month of U.S. ocean container import volumes in April, but reduced wait times at top U.S. ports. The anticipated impact of China’s COVID lockdowns has not yet materialized in the overall volume of U.S. container imports. The combination of high volume, China lockdowns and global conflict continues to point to challenging global supply chain performance in 2022.
April continued the very strong start to 2022 at 2.47 million container imports, setting another monthly record for U.S. volumes (see Figure 1). Container import volumes were down 4% from March 2022 but could be considered on par with March due to the Easter holiday and the month of April being a day shorter. In contrast to previous years, however, April 2022 volumes were up 4% from April 2021 and 28% from pre-pandemic April 2019. Another month effectively exceeding the 2.4 million TEU mark indicates that the chronic supply chain disruptions (e.g., delays, variability, etc.) importers and the logistics community have been experiencing are not abating in the short-term.
Figure 1. U.S. Container Import Volume Year-over-Year Comparison
Source: Descartes Datamyne™
“As imports from China were almost 1% higher in April 2022 versus April 2021, one can conclude that, despite the lockdowns, a large number of goods were still moving out of China in the mid-February to mid-March time frame,” said Chris Jones, EVP Industry & Services at Descartes. “While container import volumes were again at record levels, April showed continued reduction in port wait times although the majority are still experiencing delays in excess of 10 days (see Figure 2).”
Figure 2: Average Wait Times (in days) at Top 10 U.S. Ports
|New York/New Jersey||15.0||14.7|
Source: Descartes Datamyne
The May report is Descartes’ tenth installment since beginning its analysis in August 2021. To read past reports, learn more about the key economic and logistics factors driving the global shipping crisis, and review strategies to help address it in the near-, short- and long-term, visit Descartes’ Global Shipping Crisis Resource Center.
Descartes is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.
Global Media Contact
Tel: +1(800) 419-8495 ext. 202025
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relate to Descartes' solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, "Certain Factors That May Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes most recently filed management's discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.