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

North Carolina state Rep. Ben Moss withdraws labor...

July 20, 2023

Who’s who on Trump’s short list for attorney...

November 12, 2024

Michelle Obama to skip Trump inauguration, 11 days...

January 14, 2025

Mike Johnson says Harris is Iran’s ‘preferred candidate,’...

September 23, 2024

Biden admin facing third year of crisis at...

December 27, 2022

SCOOP: House Republicans request ban on federally funded...

May 24, 2025

“I Can See Why They’re Trying To Silence...

September 16, 2022

Sen Kennedy’s IQ dig at VP Harris sparks...

November 24, 2023

Why banning 8 food dyes is important in...

April 25, 2025

Trump’s tough policies push UK, EU to significantly...

May 19, 2025

    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

    • Business leaders paralysed by risk warn BDO as caution stifles growth

      June 9, 2025
    • Starmer pledges £1bn investment to supercharge UK tech and AI infrastructure

      June 9, 2025
    • 5 terrifying flashpoints that could ignite global war

      June 9, 2025
    • HMRC inheritance tax investigations surge 37% as treasury seeks to plug revenue gap

      June 9, 2025
    • Believ secures £300m to roll out 30,000 public EV charge points across the UK

      June 9, 2025
    • US and China hold London talks to ease trade war tensions

      June 9, 2025

    Categories

    • Business (8,160)
    • Investing (2,019)
    • Politics (15,572)
    • Stocks (3,136)
    • 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