Posted on 10/24/2022 9:35:19 AM PDT by george76
Slump in imports, cargo diversions to other ports help shrink queue of dozens of vessels
The backup of container ships off Southern California’s coast that was at the heart of U.S. supply chain congestion during the Covid-19 pandemic has effectively disappeared.
The queue of ships waiting to unload at the ports of Los Angeles and Long Beach fell from a peak of 109 ships in January to four vessels this week
... .
U.S. import volumes are declining
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The ports of Los Angeles and Long Beach together handled 686,133 loaded import containers in September, down 18% from a year earlier and the lowest level since June 2020... August imports fell 12% from last year, a steep drop during the traditional peak shipping season.
Ports including Savannah, Ga., Houston and New York and New Jersey have coped with backups triggered by the diverted cargo. But in recent months, big-box retailers have canceled many orders after a rush of orders earlier in the year and shifting consumer buying patterns left the merchants overstocked.
...
With demand slowing, shipping lines have canceled between 26% to 31% of their sailings across the Pacific over the coming weeks .. signaling that carriers are preparing for a continued drop in bookings.
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By September 2021, the average cost for shipping a container from Asia to the U.S. West Coast exceeded $20,000, a sixfold increase from a year earlier, according to the Freightos Baltic Index. Last week, the average cost to ship a container from Asia to the U.S. West Coast had declined 84% from a year earlier to $2,720.
(Excerpt) Read more at wsj.com ...
People are busy trying to afford to eat. They’re not buying junk anymore.
Ping!
With the Christmas season starting all of the imports have to arrive over the summer.
No surprise to anyone that pays attention.
Which excludes members of the media based in LA.
After all, they would never head down to Long Beach to see what is really happening, and actually ask someone.
Lose lose is the Democrat mantra
Hopefully this will lead to lowering of prices for many things.
the US economy is officially a DC centrally-planned economy, and it is addicted to cheap, printed money and debt.
When politics and the Fed have had enough of this present “austerity,” expect the debt and money hose to be turned on again.
“When politics and the Fed have had enough of this present “austerity,” expect the debt and money hose to be turned on again.”
When the well-connected have bought stock & real estate cheap, then it will be time for you to buy it dearly.
There is currently a 15-day delay in entering the Port of Savannah, GA. Maybe a lot of the West Coast ships have diverted to the East Coast.
https://www.gocomet.com/real-time-port-congestion/usa/savannah-ussav
Yeah well there’s a surprise. My third quarter business slowed dramatically. My fourth quarter has collapsed.
So I guess I’m doing my patriotic share to ease the container ship backlog /sarc
One word describes my feelings for 2023. Frightened. Or if I were Joe Biden it would be two words “I am frightened”.
And another loss: Diesel fuel shortage. Most trucks use diesel. Food shortages on the way. I’m loading up on non-perishable food and also cat food.
I read and article that said the are anchoring the ships further out to sea so that they can’t be seen by the public….of course if the ports have caught up, I’m sure pedo Joe’s recession is the culprit….
“shifting consumer buying patterns”
TRANSLATION: CRAPPY BIDEN ECONOMY
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