Signs of Recovery in Logistics between the United States and China
VIZION, a U.S. research firm that analyzes maritime shipping bookings, revealed that the number of container bookings from China to the U.S. increased to approximately twice that of the previous week on May 12-13. A deal reached by the Chinese and U.S. governments to significantly reduce tariffs is likely to revive the previously stagnant logistics activities.
The Chinese and American governments held ministerial-level talks in Switzerland from May 10th to 11th. The two sides outlined the contents of their consultations and future policy directions at a press conference on the 12th, with the agreements taking effect at noon Beijing time on the 14th.
Data from VIZION shows that the number of container bookings from China to the United States reached 39,340 twenty-foot equivalent units (TEUs) on May 12th and 42,350 TEUs on the 13th. Container bookings typically occur on weekdays, with last week’s weekday bookings ranging from approximately 20,000 to 23,000 units.
Bookings may be canceled afterward or not actually transported. Nevertheless, with the tariff reduction, shippers appear to have begun restarting maritime transportation.
VIZION tracks and analyzes booking data for millions of containers globally. Since the U.S.-China tariffs exceeded 100% in the first half of April, the number of container bookings from China to the U.S. has continued to drop significantly by approximately 30%-60% year-on-year.
Source:Nikkei
