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The container market continued to show strength in March as the pull forward ahead of the Lunar New Year continues to pay dividends at the ports. According to the monthly report by Descartes, U.S. container import volumes in March climbed by 0.4% from February and over 15% from March 2023.
This is the seventh time in the last eight months that the LMI has shown expansion. This growth is driven by the buildup of inventories, the subsequent tightening of warehousing, and the ongoing slow yet steady recovery in transportation.