Thanksgiving is later this month and Christmas is only 49 days away; the biggest shopping season of the year is coming, but . . . . . .
The cargo vessel count from China to the US has dropped to 41, the lowest since February 2024.
The number of large cargo ships has declined -30, or -42%, over the last 3 weeks.
This is well below the average of ~60 over the last 18 months.
As a result, total cargo volumes have HALVED to ~300,000 TEUs, where one TEU equals a standard shipping container, the lowest since at least January 2024.
Combined cargo volumes from all major Asian exporters have also fallen to ~700,000 TEUs, the lowest since February 2024.
Of course retailers placed their Christmas orders around the middle of Summer, and shipping of most of that took place in August-September, arriving in October. So a decline in shipping is not abnormal, but these numbers are not merely a "decline" they're a cliff. Very abnormal.
US-China trade is rapidly slowing.
