Posted on 10/14/2009 8:23:10 PM PDT by Vince Ferrer
The number of laid up containerships increased 10.4 per cent in a fortnight, according to the latest Alphaliner survey, which showed 568 ships were idle, aggregating 1.35 million TEU as of October 12 from the 548 idle vessels, totalling 1.29 million TEU, noted two weeks earlier. The Paris-based agency said laid up fleet is now the biggest ever. Apart from ships in the 1,000-TEU - 2,000 TEU range (7,500-TEU plus sized ships lay-up rate remained steady), all sizes showed increases in idling during the two-week period.
Alphaliner also reported that the raft of service cutbacks by major carriers had an impact. Yet idle ships from non-operating owners and active carriers alike continued to rise as the peak season faded and ships ended rotations as seasonal demand dried up.
I guess the liberals will say this is more evidence of recovery. lol.
There is also the question as to whether manufacturers are moving inventory in the vain hope that they will be purchased for the holidays. The recent drop in retail sales do not look promising for this to be the case.
The container ship docks in the Houston area are noticably slower this year.
ping to laid-up container ship story.
Its affecting truck drivers quite heavily. No goods coming in - No goods getting trucked to suppliers/stores/distributors/manufacturers, etc.
My call is that the post Thanksgiving Christmas shopping season will be off the bottom of the charts - worse in decades (JMHO)
My “holiday” shopping is all done - and it consisted of redeeming airline miles and credit card points for gift certificates for my family
Trailer Equivalent Unit ?
thanks
Twenty-foot equivalent unit
Thanks...
Twenty (foot) Equivelent Unit
A common 40 foot container is equal to 2 TEU’s
Good! It will be much better after the defaults! We need new leadership in business and government at every level, and the fall of the globalists will be a start.
I don’t see how you can be wrong.
From my personal view, most people purchase those goods with credit cards. With the banks cutting back and cranking up rates, and with so many people paying down their revolving debt, I don’t see people saving money in order to pay cash for holiday shopping.
Not to mention that little 16% unemployment thingy. No job, no money, no buying.
Nice link.
They hain’t otter be doin’ that in the fortnight. Do it out in the open whens everbody can see.
Cheap housing for the homeless.
Thanks for posting this. I’m going to share it with my co-agents. It’s pretty disheartening and we’re looking at maybe 6 more months before things pick up. It’s a sure bet there won’t be a last minute rush to move everything by the end of the year, this year. There’s just nothing out there left to move. I heard today of a trucker taking a long haul for less than $1 a mile, when before obamanomics those were going for $3 a mile or more, easily.
As bad as it is now for shipping and trucking, oils prices have remained comparatively low. With the dollar falling, that will change, and may permanently re-order our supply chains and logistics. The swift and flexible will win.
Less sh-t from china.
Stats like this convince me we are still in a recession. I don’t bother with lagging indicators like unemployment.
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