by Calculated Risk on 7/13/2018 05:50:00 PM
Friday, July 13, 2018
From the Port of Long Beach: Port of Long Beach Sees Busiest Month Ever
Container cargo volumes reached record heights at the Port of Long Beach last month, surging past the previous mark and distinguishing June 2018 as the Port’s best month ever.And from Reuters: China's imports to U.S. ports start peaking early amid tariff threat
Trade increased 14.2 percent in June, compared to the same month in 2017. The Port’s terminals moved 752,188 twenty-foot equivalent units (TEUs), 4.4 percent higher than the previous “best month” record set in July 2017.
Chinese imports to U.S. ports rose more than expected in June, suggesting that some retailers moved up orders to insulate themselves from an intensifying trade war that threatens to send up costs on a growing number of consumer products.It appears port traffic is picking up early this year in an attempt to beat the tariffs. I'll post a graph once the Port of Los Angeles reports June traffic.
Retailers such as Walmart Inc and Amazon.com (face uncertainty due to U.S. President Donald Trump’s threat to impose more tariffs on Chinese goods, and the jump in imports from the country was likely because of “pre-emptive buying in anticipation of the tariffs”, said Ben Hackett, founder of international maritime consultancy Hackett Associates.
“This is a bump that isn’t quite normal,” he said.
Posted by Calculated Risk on 7/13/2018 05:50:00 PM