Flexport steps up with coronavirus rules as medical mask imports fall — Panjiva


Flexport steps up with coronavirus rules as medical mask imports fall

China 2288 Corp - Forwarders 207 Health Care 163 Mode - Seaborne 1467 Natural Disasters 155 U.S. 4074

Freight forwarder Flexport will no longer ship certain medical supplies – including personal protective equipment – “unless the customer can demonstrate which hospital system or other frontline emergency responder they are being provided to“, CEO Ryan Petersen has stated

The move comes as the cross-border transit of medical supplies has been interrupted by governmental export limits, as outlined in Panjiva’s research of March 17, with Flexport’s move designed to prevent stockpiling and ensure the supplies go to hospitals rather than personal use.

Flexport’s position as an innovator has allowed it to expand rapidly, shown by a 197% year over year surge in U.S. seaborne imports handled by the firm in February. That was a somewhat slower rate than the 288% seen in January, Panjiva’s data shows, driven unsurprisingly by a slowdown in growth of shipments from China.

The firm saw a 41.6% drop in imports from China – which represented 55.7% of the total in the past three months – in February versus January compared to a 17.4% decline in the same period a year earlier.


Chart segments U.S. seaborne imports handled by Flexport on a monthly and three-month average basis. Source: Panjiva

In the meantime there’s likely been a downshift in U.S. imports of medical masks. Precise data is difficult to determine given the variety of tariff lines and descriptions covering the product category. Panjiva’s approximation for U.S. seaborne containerized imports of medical masks in the first two weeks of March fell by 24.2% year over year.

That followed a 13.5% decline in February and 3.1% slip in January. Shipments from China accounted for 77.4% of the total in 2019, with the normal seasonal peak for imports occurring ahead of the winter flu season in August each year.


Chart shows U.S. seaborne imports with documentation including keywords associated with medical masks. Data for March 2020 shown on the basis of percentage change in the first 14 days of the month. Source: Panjiva

PANJIVA RESEARCH is a service provided by Panjiva, Inc. ("Panjiva") to relevant global subscribers, and are deemed to be Panjiva "Services" subject to the Panjiva Terms & Conditions of Use. Information contained within or made available via the Services is for informational purposes only and nothing in the Services shall constitute or be construed as an offering of financial instruments, or as investment advice or recommendations by Panjiva, Inc. or its affiliates of an investment strategy or whether to "buy", "sell" or "hold" an investment. The Services may include views and commentary about customers of Panjiva. No aspect of the Services is based on consideration of your individual circumstances, and you should determine on your own whether you agree with the information contained within or made available via the Services. Employees involved in Panjiva Research may hold positions in securities analyzed or discussed in the Services. Panjiva does not make any express or implied warranties, representations, endorsements or conditions with respect to the Services and the information contained within or made available via the Services, including without limitation, warranties as to the usefulness, completeness, accuracy, currentness, reliability or sufficiency of any information (including, without limitation, conclusions, statements, opinions, estimates, forecasts or projections of any kind) and expressly disclaims any implied warranties. Neither this disclaimer nor any of its contents may be forwarded or redistributed without the prior written consent of Panjiva. © 2020 S&P Global. All Rights Reserved.