Can we get an economist out there somewhere to agree that US imports are collapsing?
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— Port of Los Angeles (@PortofLA) December 22, 2015
World trade is collapsing, the figures are horrible. UK exports by air (a high % value wise) are down about 5% (October down 18% YOY) talking approx 17 million KGS this year (that's 2.2 pounds per kg).
ReplyDeleteAndy they may be getting their oil changes done locally this year with the oil revenues way down, probably showing up in the UK air cargo numbers:
ReplyDeletehttp://www.thesun.co.uk/sol/homepage/news/1493291/Sheikh-flies-Lamborghini-6500-miles-to-Britain-for-oil-change-Exclusive-pictures-of-the-Lamborghini-Murcielago-LP640-supercar-arriving-in-Heathrow.html
Otherwise EZ exports pretty solid:
http://www.bloomberg.com/news/videos/2015-11-18/eurozone-exports-hold-up-is-europe-s-growth-returning-
I was talking exports from UK, figures I used Matt come from CASS (Cargo Accounts System Settlement, it's how we pay airlines so are reliable and our MD shares them with us managers, they are dire really) A Sheikh bring in a Lambourgini is insignificant.
ReplyDeleteBiggest cargo vessel visiting the US to say international trade is great would be as meaningful as a climate change denier claiming it isn't happening as it's cold outside today. What rates were the shipping line throwing out to get a load?
Andy does the report include the tonnage? (Not just revenues...I'd assume rates are down...)
ReplyDeleteiow can you see what the tonnage is YoY? That would be interesting....
Here this is my local major port:
ReplyDeletehttp://governor.maryland.gov/2015/08/31/governor-hogan-praises-new-cargo-records-set-at-the-port-of-baltimore/
" The Port moved more than 9.7 million tons of general cargo and more than 808,000 20-foot containers in Fiscal Year 2015 and continues to set additional major benchmarks. The new record marks include:
Most General Cargo Tons in a Fiscal Year—9,742,050 tons. General cargo includes containers, autos, roll on/roll off (farm and construction machinery), forest products, and break bulk cargo.
Most General Cargo Tons in the first six months of a calendar year—4,881,105 tons.
Most TEU (Twenty-foot Equivalent Unit) containers in a single month—79,644 units set in June 2015.
Most TEU containers in a 12-month period—808,500 units in the 12-month period ending in June 2015."
They are killing it.... thru June... measured in tons (ie real)....
'Here is my local port'
ReplyDeleteCold in Batimore therefore no climate change.
The tonnage is down 17 million tonnes Jan thru October, alas don't have the figure for October YOY just nominal. Ain't pretty out there.
ReplyDelete(sorry saw your tonnage report in the first comment my bad... perhaps look at other modes as well maybe some air converted to other modes? This is happening in Baltimore they recently installed a HUGE crane system (ofc made in China and floated over...) to off-load the Panamax container ships so I think they are stealing some volume from Norfolk and the rails... )
ReplyDeleteJust because export revenues are down doesnt mean "exports are collapsing!"...
No its warm here: supposed to be 72 degrees F tomorrow! .... definitely having the effects of the global warming here this year (so far) you can definitely feel it...
In the UK'S case a high % of exports go by air as heavy high value ie Pharma type exporters so don't get switched to different modes (a couple of % drop might have been the case admittedly, not that big a drop though) DHL global have made laid off a load of workers at London Heathrow.
ReplyDelete