Retailers have been talking about how they must cut back inventory, but that hasn’t materialized yet at the two largest ports in the nation.
, longshore workers also were working hard as the port had its busiest July on record. Some 785,843 20-foot containers made it across the docks, which was a slight 0.13 percent uptick from one year ago. The port has broken monthly records in six out of the last seven months.move about 40 percent of all the cargo container shipments coming into the United States.
Some progress has been made. In late July, the Pacific Maritime Association, which represents the terminal operators, and the ILWU issued a statement saying they had reached a tentative agreement for health benefits, subject to agreement on other issues in the negotiations. Meanwhile, there are other problems to be resolved at the ports. Dwell time for cargo containers to be picked up by rail is averaging 12 days compared to 11 days last year, which is still very long. In the past, it took only three or four days to get a container loaded onto a rail car.
Walmart recently announced it was cutting hundreds of billions of dollars in orders during the fourth quarter because it had too much merchandise.
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