May import numbers are in and yet again, the trend is closely aligned with pre-COVID levels in 2018-2019. But there are two big differences between now and then.
Port labor disruptions are now impacting Asian cargo flows to the West Coast and low water levels in the Panama Canal are affecting Asian cargo flows to the East and Gulf coasts. If these issues persist and there is a “normal” peak season volume upswing in the months ahead, importers could face higher-than-normal complications.
