Thursday, March 19, 2009

Trade Collapsing (at least for the Port of Long Beach)

Traffic is down a total of 40% yoy, 20% to ytd (Port of Long Beach via Paul Kedrosky). A few pretty dramatic numbers. I'm guessing most of those containers are moving to and from China. Though I think one factor Kedrosky may not be picking up on is the new $35 "clean trucks fee" being charged (as of Feb 18th) with shippers looking to other ports as a result - particularly in this economic environment (3PLWire).

Update: Hong Kong's air cargo traffic drops 19.7%, and air passenger traffic drops 13.7% (China Economic Review.

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