U.S.-bound August shipments see annual gains, reports S&P Global Market Intelligence

Coming off of a record-setting July, United States-bound containerized freight imports saw annual gains, albeit at a reduced pace, according to data recently issued by S&P Global Market Intelligence.

The firm reported that August imports, at 2,917,318 TEU (Twenty-Foot Equivalent Units), were off 2.6% sequentially, compared to July’s 3.01 million TEU (which topped the 3 million TEU mark for the first time and came on the heels of a June decline, coupled with importers looking to optimize sourcing following the White House’s reciprocal tariffs related to the International Emergency Economic Powers Act on most U.S. trading partners, which went into effect on August 7), and were up 3.8% annually, while setting a new August record. Through the first eight months of 2025, total imports, at 22,116,114 TEU, were up 4.4% annually and up 16.5% compared to August 2019.

S&P Global Market Intelligence observed that the sequential volume decline further reinforced the pull forward trend anticipated earlier in the year, which it added is further shown with the 1.9% annual gain. And it added that August is one of the traditional high-water marks of the Peak Season, in that it represents back to school inventories, with the other in October, as the holiday season ramps up, adding that it may involve higher prices than in recent years.

S&P Global Market Intelligence reported the following for August imports:

• consumer discretionary goods and automotive parts were up 7.6% and 9.2%, respectively, paced by tariff policies and early stocking related to uncertainty;
• capital goods and IT products were down 8.1% and 5.5%, respectively, possibly due to tariffs on materials like steel, aluminum, and copper;
• home furnishings rose 21.4%;
• consumer electronics and leisure goods imports, which the firm said typically peak from July to August, saw a 3.0% gain for that period, the lowest in five years, compared to a 20.5 average from 2016-to-2019, which the firm said suggests a potentially weak peak season for holiday retailers;
• electronics and leisure products were down 8.4% and 10.2%, respectively, possibly signaling a reduced Peak Season for these items—or that importers are waiting for more certainty on duties;
• appliances increased 1.2% annually, after a 7.2% July decline and an 8.0% second quarter decrease; and
• textile and apparel imports fell 1.6%

In an interview, Eric Oak, Supply Chain Intelligence Analyst at S&P Global Market Intelligence, observed that even though volumes were again up in August, it comes at a time when it does not necessarily feel like there is strength in the market, especially when compared to current freight rate levels.

“It is going to be really interesting to see how the Peak Season develops, because August felt like a turning point but it is hard to say which way things are turning yet,” he said. “It does look like shipments were pulled a bit earlier into July. “In 2022, August was the peak for the year and last year it was September. The pattern this year, at least for June, July, and August, seems to be similar to 2024, which did increase in September. I would expect there to be some kind of increase for the holiday peak. But as to it will approach 2024 levels or 2022-2023 levels is the question we are all asking.”