Four Kites new data: Shipment reduction/impact of Shenzhen closure

Apr 19, 2022

Over the past week, ocean volume tracked by FourKites at the Port of Shanghai remained at lower levels, with the 14-day average ocean shipment volume down 23% compared to March 12th (the day before lockdowns went into effect in Shenzhen and partial lockdowns began in Shanghai). Meanwhile, FourKites has seen strong ocean volume at the Ports of Shenzhen and Ningbo-Zhoushan, with 14-day average ocean volume up 15% compared to March 12th, as Shenzhen recovers from COVID-19 lockdowns earlier in March and shippers divert goods through ports nearby to Shanghai. (Fig. 1)
At the Port of Shanghai, FourKites has started to see the effects of the COVID-19 lockdowns on ocean dwell time. For imports, the 14-day average dwell time is now at 8.3 days, up 144% compared to March 12th.Export dwell has been impacted to a lesser extent, now at 6.0 days and up 20% compared to March 12th. (Fig. 2)
Over-the-road volume in Shanghai continues to be impacted as well, as both deliveries to and pickups from Shanghai decreased further over the past week. As of April 16th, the 14-day average over-the-road and intermodal shipment volume leaving Shanghai is down 41% compared to March 12th, while deliveries to Shanghai are down 72% over the same period. (Fig. 3)