The number of container ships in US coastal waters has fallen to less than half of the count a year earlier, in the latest ominous sign of slowing global trade.

There were 106 container ships both in port and off the coastline late Sunday, compared with 218 at this time last year, a 51% drop according to vessel data analyzed by Bloomberg. 

Data from IHS Markit showed that the weekly count of port calls in US waters through March 4 had slowed to 1,105 from 1,906 the year prior. That’s the lowest level since mid-September 2020.