Total loaded shipping volume drops by 17.5% year-over-year. The decline in shipping volume can be linked to economic uncertainty and shifting consumer behavior, leading to reduced demand for specific goods and services. Import-to-Export Ratio Nears 3.5:1 (for every 3.5 loaded imports, there is 1 loaded export). As shipping volume starts to stabilize, we're also witnessing a decreased demand for industrial space. Reduced shipping activity typically translates to decreased need for warehousing and logistics facilities, resulting in reduced demand for industrial real estate.
November 13, 2023