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Supply
Chain by the Numbers |
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- August 23, 2024
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Walmart Goes to Burger King for Plus Members; US Manufactring Flat again in July; Idle Container Ships almost Gone; Freight Recession Continues |
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| That is the discount on food from Burger King every day for Walmart+ members, the retailer’s version of the popular Amazon Prime subscription program. What’s more, Walmart+ members are also eligible for a free NK Whopper sandwich every three months. Walmart has kept its annual price lower than Prime’s $139 and has been adding benefits like this to match Amazon’s in an attempt to match its dominance. Currently, Walmart is significantly trailing — 29 million members to Amazon’s 184 million subscriber in the US. Will consumers want to have it their way with Walmart+? |
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That was the level of US manufacturing output in July as represented in the monthly index from the Federal Reserve Bank, which was released late last week. That was basically flat from an index score of 99.5 in June, as the index has seen scores hovering around the 99.0 level since February 2023, with no real growth, but not recessionary with declines either. The July level however, was up 1.0% versus July 2023. But at an index level of 99.8, it means US manufacturing is still now just below output in the baseline year of 2017 (index = 100) now seven years later. It is also well below the all-time high of about 108, reached in late 2007.
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0.9% |
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| That was the modest drop in July in the monthly freight tonnage index from the American Trucking Associations versus the same period in 2023, according the ATA in numbers released early this week. The index was up a modest 0.3% in July versus June, but after June volumes having dropped 1.6% versus May, as the freight recession continues on. In July, the index stood at 113.7, versus the baseline of the average in 2015, for which the index set is set at 100.That means freight tonnage is up just 13.7% versus 2015, now almost 10 years later. "While July wasn't a strong month, we see continued evidence that the truck freight market is likely turning a corner, albeit slowly," said ATA Chief Economist Bob Costello. |
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That was the tiny number of containerships that were categorized as idled last week , according to data released this week by the maritime time analysts at Alphaliner. Those 67 ships represent capacity of just 195,159 teu, only 0.6% of the world’s 30-million teu total global fleet capacity. Additionally, the idled units are heavily weighted towards smaller ships, with 41 of the 67 having capacity of less than 2,000 teu. “The liner shipping peak season, intermittent congestion at some key ports and the ongoing diversions around Africa continue to put a strain on the supply of tonnage,” said Alphaliner in its report. That even as about 500,000 teu of newbuild container vessels hit the water in June and July, with over 100,000 teu delivered this month so far. So capacity is extremely tight.
