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☆ Is Globalization in Decline? A New Number Contradicts the Consensus
  + stars: | 2023-11-03 | by ( Josh Zumbrun | ) www.wsj.com   time to read: 1 min
Shipping containers awaited transport at Georgia’s Port of Savannah earlier this year. Photo: Elijah Nouvelage/Bloomberg NewsThis is a column about two numbers that seem to tell contradictory stories about globalization. Over the past 15 years, a consensus has developed that globalization has run its course and gone into decline. One popular number supporting this argument: Trade as a share of global output peaked in 2008 at the cusp of the global financial crisis and has never recovered.
Persons: Elijah Nouvelage Organizations: Bloomberg Locations: Georgia’s Port, Savannah
☆ U.S. East Coast Port Workers Begin Early Contract Talks
  + stars: | 2023-02-07 | by ( Paul Berger | ) www.wsj.com   time to read: +3 min
The International Longshoremen’s Association, which represents East Coast and Gulf Coast dockworkers, in September asked its locals to open talks with regional employer groups, said James McNamara, an ILA spokesman. A spokesman for the Pacific Maritime Association, which represents carriers and terminal operators on the West Coast, declined to comment. The Port of Houston and Georgia’s Port of Savannah have also benefited from freight diversions away from the West Coast. The West Coast labor talks have significant hurdles to overcome once the two sides resolve their regional disagreements, according to shipping industry officials. Shipping industry officials say the talks covering Gulf Coast and East Coast ports face fewer stumbling blocks.
☆ U.S. Container Imports Are Plummeting to Close the Year
  + stars: | 2022-12-15 | by ( Paul Berger | ) www.wsj.com   time to read: +4 min
Big U.S. ports are reporting steep declines in inbound container volumes for November, signaling a downturn in goods imports is accelerating and adding to concerns over a deeper slowdown in 2023. The ports also handled about 98,000 fewer inbound boxes last month than in November 2019 and imports have been below prepandemic levels since September. Port of Los Angeles Executive Director Gene Seroka said the U.S. is seeing a slowing of imports. They also diverted goods to Gulf Coast and East Coast ports due to fears of a work slowdown as West Coast dockworkers negotiate a new multiyear labor agreement. The downturn is reaching East Coast ports, which have seen relatively strong trade as companies shipped around California’s congested gateways.
☆ Southern California’s Container Ship Backup Ends
  + stars: | 2022-11-22 | by ( Paul Berger | ) www.wsj.com   time to read: +2 min
It is “time to move into a different phase of operations and declare that the backup has ended,“ Mr. Louttit said. The backup rippled through supply chains, causing monthslong delays in deliveries of furniture, electronics and clothing, and helped push ocean shipping prices to record levels. Many importers have also diverted goods away from West Coast ports. Disputes between dockworkers and their employers during previous labor talks on the West Coast have led to significant shipping delays. The diversions triggered backups at Gulf Coast and East Coast ports.
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