Import and export ocean shipment volume at Chinese ports over the past weeks has declined as strict COVID-19 lockdowns have returned in tourist towns.
FourKites reports its data show that as several large Chinese cities have been rolling out stringent lockdown policies, volume at the Port of Shanghai has started to decrease since the peak in mid-July, down 18 percent since then.
The 14-day average ocean shipment volume is now down 11 percent compared to March 12th (the day before lockdowns went into effect) and down two percent week-over-week for shipments tracked by FourKites.
This is up from mid-May, where shipment volume was down as much as 25 percent over the same period. Other Chinese ports are up since March 12th but have been trending down with the volume at the Port of Shenzhen up 19 percent (down 46 percent week-over-week) and the volume at the Port of Ningbo-Zhoushan up 13 percent (down 13 percent week-over-week) compared to March 12th.