Let's get review shipping updates from Craig Fuller, Founder/CEO of FreightWaves and American Shipper.

Shanghai image from a Tweet embedded below

Vessels Waiting to Enter Port of Shanghai 

Video Images of Shanghai

Shanghai Covid Lockdown

China About to Wreck Your Summer

"The coming volume drop in ocean container volumes (TEUs) leaving China for US ports is staggering. Our Ocean TEU Volume Index in SONAR now has a 14-day forward look at volumes, and it looks ugly. By early May 2022, we could see the lowest levels we’ve seen since May of 2020."

Deflation Anyone?

What About Kitchen Appliances?

"A large private consumer kitchenware manufacturer told me that they have seen a large contraction in demand over the past 8 weeks."

Question of the Day

Is the slowdown in Shanghai at all welcome? That's the big question. 

To the extent US merchants have ordered too much inventory in the face of falling demand, perhaps. 

But Fuller notes there are just too many questions. For starters, what is China doing? Every other country on the planet is loosening restrictions. 

What's really going on?

What About the UK?

Meanwhile, Back in the States 

"Truckload contract load volumes dropped 4.5% this week. 7th consecutive week of declining contract truckload volumes. Next week is EOM, hoping for an uptick."

More Deflation Calls

Recession Level Trucking Demand

Important Point

I believe you get the idea, shipping is a mess and there is a slowdown as well. A US housing bust is underway.

But here's an important point about deflation and recession: When Fuller makes a recession or deflation call, it is specifically about the trucking industry, not an overall assessment.

Whereas he comments on the trucking industry, I am willing to go further. A very hard landing is on the way.