As the International Longshore and Warehouse Union and the Pacific Maritime Association continue their contract talks, reports that the Teamsters have taken down their pickets in the LA/LB harbor is a positive sign.
News
“The amount of freight carried by the for-hire transportation industry rose 0.6 percent in May from April, rising for the fourth consecutive month, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) Freight Transportation Services Index (TSI) released today.”
“The level of freight shipments in May measured by the Freight TSI (120.0) reached a new all-time high level of 120.0, exceeding the previous high of 119.4 in November 2013.”
Today the Global Port Tracker report by the National Retail Federation and Hackett Associates. Current and forecasted U.S. import volume data is found within the report which points to July as being the highest monthly volume in the last five years.
The International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) today issued the following statement:
Shipment Volumes
“June shipment volumes increased 2.4 percent to the highest level since November 2007, just before the recession. Volumes were 6.0 percent higher than a year ago and are up 15.8 percent since the beginning of 2014.”
The companies listed below are the subject of an ongoing and unresolved FCPA-related investigation. The names are current through June 30, 2014.
The Coalition of New England Companies for Trade (CONECT) issued an advisory Thursday evening regarding a possible West Coast Trade Disruption.
On Thursday 7/3/14 the Bureau of Labor Statistics released their latest “Employment Situation Summary”. For the month of June, total nonfarm payroll employment witnessed an increase of 288,000.
“Transportation and warehousing employment increased by 17,000 in June.” Over the prior 12 months, this industry has averaged an additional 11,000 jobs per month.
Please note we are currently seeing congestion and delays at the Los Angeles and Long Beach ports. The port congestion, coupled with equipment shortages, is resulting in delays of 7 to 10 days or more for containers destined to move inland on rail.
