Monday, November 16, 2015

One era of time is not like the others
Think anyone local will tell you?
"Combined, imports at the container terminals at the ports of Los Angeles, Long Beach, Calif. and around New York harbor, which handle just over half of the goods entering the country by sea, fell by just over 10% between August and October.

The declines came during a stretch from late summer to early fall known in the transportation world as peak shipping season, when cargo volumes typically surge through U.S. ports.

...missing peak season has been a major headache for trucking companies, railroads and steamship lines. One large maritime carrier, Singapore’s Neptune Orient Lines Ltd., told investors there was “no peak season” in North America as an explanation for a $96 million quarterly loss.

...the inventory unwind has a long way to go. Nationwide, the seasonally adjusted ratio of inventories to sales at U.S. retailers, wholesalers and manufacturers in September was at 1.38, up from 1.31 in September 2014 and the highest reading for that month since 2001, according to the U.S. Census Bureau.

...Private business inventories grew by a record $223 billion in the first half of 2015, which IHS Inc. chief economist Nariman Behravesh called “twice the sustainable pace,” raising concerns that reduced inventory investment would be a drag on gross domestic product.

...“Instead of taking that extra money that [low fuel prices] are generating and going on a shopping spree, consumers are being more conservative,” said Rosalyn Wilson, a supply-chain analyst with Parsons Corp. “It’s bad for the global economy because it means we’re not purchasing.”