The Port of Long Beach released their March numbers. Loaded inbound freight was down almost 8%. But the number of empty containers—those being repositioned for capacity were down about 11.9% year over year.
The empties number drop indicates a fall in the need for containers going to other ports. This translates into a shrunken capacity in the world wide market.
This does not bode well for plans for incoming freight.
China is NOT back online. The supply chain for the bulk of imports remains broken.