Saturday, August 14, 2010

L.A. Port Shipping Reaches 23-Month High in July

I reported on Wednesday that international trade reached a 20-month high in June, and Friday's report from the Port of Los Angeles provides additional statistical evidence of an ongoing boom in international trade activity. Shipping volume reached a 23-month high in July of 730,746 Twenty-foot Equivalent Units (TEUs), the highest monthly shipping activity since August of 2008 (see chart above), and 26.8% above July last year. On a year-to-date basis, shipping activity at the LA Port is up by 16.8% compared to last year.

Other highlights include:

1. Imports (loaded inbound containers) were up 21% and exports (loaded outbound) increased by 6% compared to last July.
 
2. The 26.8% increase in July follows double-digit gains of 32.3% in June, 19.9% in May and 11.9% in April.  The last time there were back-to-back monthly gains as high as 26.8% and 32.3% was back in 2003. 
 
3. For the month of July, this year's shipping activity was the highest in four years since July of 2006, and this follows a record last month for the highest June shipping volume ever in history.

12 Comments:

At 8/14/2010 11:24 AM, Blogger Michael said...

I wouldn't be surprised to find that L.A is shipping empty containers to San Francisco and vise versa.

California and unions can be funny that way.

 
At 8/14/2010 3:58 PM, Blogger Ron H. said...

"I wouldn't be surprised to find that L.A is shipping empty containers to San Francisco and vise versa."

Michael, who do you suppose would be willing to pay to ship empty containers back and forth between LA and SF?

 
At 8/14/2010 9:52 PM, Blogger Benjamin said...

Actually, this is yet another chart that is pooping out, if you look at the last month, dipping down.

The economy appears to be stalling.

The Fed should get off its rear end, and Obama shoud talk with the Chinese about keeping up growth.

Forget frigging Afcrapistan, and start thinking about jobs in the USA.

 
At 8/14/2010 10:23 PM, Blogger Ron H. said...

"Actually, this is yet another chart that is pooping out, if you look at the last month, dipping down."

Isn't there some way we can 'hide the decline'?

 
At 8/15/2010 12:59 AM, Blogger Michael said...

Well Ron,

There's a guy in the white house dumping money all over unions to make those industries look good.

While I was joking, I would put it past this administration to pay to move shipping containers from port to port just to keep the dock union workers employed.

 
At 8/15/2010 2:33 AM, Blogger James said...

International trade continues to grow and the USA continues to get the short end. I am so excited that we continue to go deeper in debt to support foreign jobs. No tariffs no recovery.

 
At 8/15/2010 10:36 AM, Blogger Michael said...

James, the government has so restricted the use of in country natural resources that no amount of tariffs is going to lead to a recovery. You're only going to increase the cost to Americans where increased consumption becomes unaffordable.

 
At 8/15/2010 12:14 PM, Blogger James said...

Michael, that did not happen the last time we had high tariffs. For most of our history we were the world’s most trade protected nation and at the same time we had the lowest priced goods and the highest wages. In the Wealth of Nations Adam Smith advised us to not industrialize but to buy from England. Alexander Hamilton persuaded us to become a tariff protected nation. After some interference from Thomas Jefferson we followed Hamilton’s advice until the last four decades. We got into this current mess with more free trade than we have ever had. Not working for me and about 17 percent of the country.

 
At 8/15/2010 12:36 PM, Blogger Michael said...

A lot has changed in the last 4 decades. The government is simply not going to let Americans have access to the raw materials needed to build a diverse, in country manufacturing base.

I'm in Ohio with plenty of closed auto sheet metal stamping plants. There should be no reason why Americans can't make their own knives and forks. So why aren't we?

It's simple. The government controls the materials and labor to make a knife and fork and they wont let the private sector do it profitably.

 
At 8/15/2010 2:59 PM, Blogger Ron H. said...

"I'm in Ohio with plenty of closed auto sheet metal stamping plants. There should be no reason why Americans can't make their own knives and forks. So why aren't we?"

Michael, I'm already making my own knives and forks, after a fashion, I just steal extra plastic stuff from the fast food restaurants I frequent.

"Sheet metals? I don't need no stinkin' sheet metals." :-)

 
At 8/15/2010 4:14 PM, Blogger Ron H. said...

James, I'm not sure I'd use the ideas of Alexander Hamilton as an example of what's best for America. He was a staunch Federalist and favored a strong central government. In fact, among other things, at the constitutional convention he argued for electing a president for life, who would appoint state senators who would serve for life, and would also appoint state governors.

How this differs from a monarchy is hard to tell.

He felt that the British form of government was the best on Earth, and hoped the new US government would be fashioned after it. He admitted to being out of step with almost everyone else at the convention.

As for consistency, he argued to those who were fearful of a strong central government that the General Welfare clause would never be construed to include control of agriculture, but later, after every thing was signed & buttoned up he argued that it WOULD.

Hamilton was the first to argue that the 'General Welfare' and 'Necessary and Proper' clauses of the Constitution gave congress nearly unlimited power - an idea that was laughable at the time - as the other Founders in writing the Constitution had tried in every possible way to LIMIT the power of the federal government.

As we all know, the idea of such flexibility in the Constitution has gained great favor over the years with those in power, and with those who haven't learned or don't understand US history.

 
At 8/15/2010 9:05 PM, Blogger juandos said...

"Forget frigging Afcrapistan, and start thinking about jobs in the USA"...

Well since the 'socialist idiot' who's defiling the Oval Office now is killing jobs and income maybe Americans can find work in Afghanistan...

Thank you 'Sweetness & Light': Afghanistan says finds 1.8 billion barrel oilfield

Hmmm, will we hear a repeat of 'blood for oil'?

 

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