LA Shipping Volume Increases 5 of the Last 6 Months for the First TIme Since Mid-2007
According to container statistics just released by the Port of Los Angeles, August shipping volume reached a 9-month high of 612,581 TEUs (20 foot equivalent units), the highest level since November of 2008 (see graph above). Additionally, the shipping volume from Los Angeles has increased in 5 out of the last six months, for the first time since the six-month period from April to September in 2007 (see shaded areas above).
According to container statistics just released by the Port of Los Angeles, August shipping volume reached a 9-month high of 612,581 TEUs (20 foot equivalent units), the highest level since November of 2008 (see graph above). Additionally, the shipping volume from Los Angeles has increased in 5 out of the last six months, for the first time since the six-month period from April to September in 2007 (see shaded areas above).
3 Comments:
Hey - lookit - I probably agree more with you than it might seem...
But...you seem to cherry pick the positive data. On shipping, what happened to your commentary on Baltic Dry? It doesn't seem to fit your optimism these days, so you ignore it. No worries, it's human nature.
There are as many reasons to be pessimistic as optimistic these days.
Optimism: historic trajectory of USA.
Pessimism: remain over-leveraged (what will happen with CRE defaults?), corporatist health care changes (not reform), regulatory capture, where are the escape valves, etc.
Wow, what a green shoot. August TEU traffic is only down 19% year over year; 16% calender year to date and 18% fiscal year to date. Traffic has deteriorated for the last 2 months. It's called seasonality. The Port of Los Angeles should use an index, e.g. year 2000=100 index?
It doesn't auger well for Black Friday and the rest of the holiday shopping season.
Let's see if the truckers haul more freight in August.
Total export value for LA is down 34% from last year in July.
Total import value is down 26%.
Vessel shipping weight is down by comparable values.
So how in the world are you reporting increases? You're not comparing July to June, are you?
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