Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

BIDEN ECONOMY: Transpacific Shipping Drops 75% During Peak Season Due to Lack of US Demand

by October 8, 2022
October 8, 2022
BIDEN ECONOMY: Transpacific Shipping Drops 75% During Peak Season Due to Lack of US Demand

Transpacific shipping is way down thanks to the Biden economy.  This is a symptom of the policies that Biden put in place to destroy the US economy. 

The Biden economy is imploding.  Now, only months before the holidays, transpacific shipping is down roughly 75% from 2021.

The Wall Street Journal reports:

Trans-Pacific shipping rates have plummeted roughly 75% from year-ago levels. The transportation industry is grappling with weaker demand as big retailers cancel orders with vendors and step up efforts to cut inventories. FedEx Corp. recently said it would cancel flights and park cargo planes because of a sharp drop in shipping volumes. On Thursday, Nike Inc. said it was sitting on 65% more inventory in North America than a year earlier and would resort to markdowns.

[…] One response to the melting demand has been to reduce sailing trips. In September, container capacity offered by ship operators in the Pacific was down 13%, dropping the equivalent of 21 ships that can each move 8,000 containers in a single voyage, from a year earlier, according to shipping-data providers Xeneta and Sea-Intelligence.

For the two weeks starting Oct. 3, a total of about 40 scheduled sailings to the U.S. West Coast from Asia and 21 sailings to the East Coast from Asia have been scrapped, according to the data companies as well as customer advisories viewed by The Wall Street Journal. Typically at this time of year, an average of two to four sailings a week are blanked, the industry’s term for canceled sailings.

[…] “In the first week of October, one-third of previously announced capacity will be blanked and for the second week, it will be around half,” said Peter Sand, chief analyst at Xeneta. “The downturn pace in recent weeks has been very fast and it looks like carriers misread the low volumes of a nonexistent peak season.”

The period between late summer and early fall typically is the busiest time of year for the largest carriers, as retailers and other importers build inventories ahead of the holiday shopping season. (more)

A year ago, the port of Los Angeles was backed up with numerous boats waiting to be unloaded.  Joe Biden said that the ports would remain open to relieve the bottleneck.  No one ever listened.

Biden Announced Ports in Los Angeles and Long Beach Would Remain Open 24/7 to Relieve Bottleneck of Container Ships Waiting to Unload – But No One Listened

Now it looks like the solution to the shipping issue was to destroy the economy so that demand for goods from overseas reached rock bottom.

By destroying the economy Biden dealt with the shipping crisis. 

The post BIDEN ECONOMY: Transpacific Shipping Drops 75% During Peak Season Due to Lack of US Demand appeared first on The Gateway Pundit.

0
FacebookTwitterGoogle +Pinterest
previous post
Breaking: Michigan Assistant Coach Mike Hart Carted Off Field After Suffering Medical Emergency — VIDEO
next post
Governor DeSantis Continues to Shine With Hurricane Ian Recovery Efforts- Power Almost 100% Restored

You may also like

Gov. Justice signs bill splitting up West Virginia...

March 7, 2023

‘Ridiculous’: Airmen outraged over woke FAA spending after...

January 12, 2023

GOP buzzes over pulling back curtain on Biden...

January 9, 2023

Defense spending bill up in flames amid House...

September 20, 2023

Vance claims ‘Democrats are helping China’ in pitch...

August 27, 2024

DeSantis the No. 1 candidate attacked in presidential...

August 15, 2023

Fox News voter panel says Harris won debate

September 11, 2024

Trump allies mount campaign to get DOGE codified...

March 15, 2025

Biden, after Navalny’s death, says ‘no doubt’ that...

February 17, 2024

Even Under Persecution, Mike Lindell Personally Takes Thousands...

October 16, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Four Cymru partners with Wales Tech Week to showcase Welsh innovation on the global stage

      August 4, 2025
    • Rachel Reeves urged to apply VAT to private healthcare in bid to fund NHS

      August 4, 2025
    • Trump accuses Senate Democrats of using nominee confirmations as leverage for funding deals

      August 4, 2025
    • UK high street banks lose £100bn in savings as customers chase better rates online

      August 4, 2025
    • Green energy tariffs fall to five-year low as UK households prioritise cost

      August 4, 2025
    • UK business leaders call on Labour to introduce skills tax relief for training Neets

      August 4, 2025

    Categories

    • Business (8,658)
    • Investing (2,168)
    • Politics (16,293)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved