Summary:
- China continues to dominate as the top country of origin for European imports, accounting for ~44% of shipments, while the United States saw a significant increase in volume, rising 2.4% year-over-year to 8.5% in 2024.
- Ningbo and Shanghai emerged as key ports of loading, with Ningbo seeing the largest increase at 1.8%. U.S. ports—Savannah, Norfolk, and Houston—also experienced growth despite recent labor strikes, highlighting their resilience during peak season.
- Rotterdam saw the largest increase in its share of imports among European ports of discharge, now handling 20% of total peak season volumes. Alongside Hamburg, Antwerp, and Felixstowe, these ports account for over 50% of imports into Europe.
Ocean peak season
The ocean peak season marks a critical time for companies preparing to import freight ahead of the holiday shopping period. Traditionally spanning August to October, recent years have seen this period begin as early as June. This shift reflects a combination of advanced planning and ordering processes, prior delays due to COVID-19 disruptions, and increased transit times resulting from tensions in the Red Sea.
In 2024, project44 has identified several key trends shaping the season: a continued rise in imports from China, shifting port preferences, and evolving regional sourcing strategies.
Most common countries of origin
The chart below shows the shifts in import volumes from certain countries to Europe during the peak season of 2023 compared to 2024.
China remains a global manufacturing powerhouse, accounting for ~44% of imports to Europe in both 2023 and 2024. However, with less than a 1% increase year-over-year, Europe is not majorly increasing its manufacturing footprint in the country. Import proportions have decreased in India, Indonesia, South Africa, South Korea, Turkey, and Vietnam.
The largest increase in proportion of imports comes from the United States. In 2024, over 8.5% of all European import shipments observed by project44 during peak season originated from the U.S., marking a 2.5% increase compared to 2023. This could be a result of the continuation of labor uncertainty among these ports. Although the strike was short, there has not yet been a new contract signed and there is potential for another strike in January, incentivizing pulling forward inventory to mitigate labor risks.
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 of loading have remained generally consistent, with Shanghai and Ningbo seeing the largest increase at 1.8% over 2023. Volumes from Houston, Norfolk, and Savannah have also risen, despite the labor disagreements and strike that took place at these ports in October. These three ports of loading made up 5.6% of all shipments into Europe during peak season.
Despite the slight increase in the overall percentage of imports from China, the Port of Qingdao saw a 1% decrease, showing different Chinese ports are being favored over this one. Declines in ports such as Mundra and Tanjung Pelepas highlight shifting sourcing strategies away from South Asia and Southeast Asia.
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 50% of all ports of discharge for imports into Europe. Rotterdam saw the most substantial increase of 2.4% since 2023, making it responsible for 20% of the imports into Europe during the 2024 peak season.
Gdansk did see the largest decrease in proportion of volume but was less than 1% lower than 2023.
Summary
The 2024 ocean peak season underscores several critical trends in global shipping and logistics. Despite efforts to diversify manufacturing sources, China remains a dominant player, while the U.S. strengthened its trade relationship with Europe. Ports in Rotterdam and Ningbo emerged as key hubs, while declines in South Asian and Southeast Asian ports reflect evolving sourcing strategies. Shippers must continue leveraging real-time data and advanced planning to navigate ongoing supply chain shifts.
