Recent data provided by Rahul Kapoor, a shipping analyst at Singapore-based Platou Markets has confirmed that weak European growth is a consistent drag on container import growth whereas, he incorrectly surmised, economic recovery in the US is aiding imports.

According to Mr. Kapoor, “European demand is not only turning fragile, it might end up turning negative for the full year given what’s happening in Europe. By comparison, US data is highly buoyant despite recent softness and is likely to stay supportive for imports.”

Carriers could face a major rates slump if they wait until later in the year to idle more ships, introduce even slower steaming, or add more port calls, he added. –

“…weak European growth (?) is a consistent drag … it might end up turning negative for the full year given what’s happening in Europe.” True.

“… economic recovery in the U.S. … and is likely to stay supportive …”. Not true at all.

“Carriers could face a major rates slump if they wait, etc., etc. …” Very true. Carriers and ship owners don’t fall for the kind of spinnage fed to Americans. They’re not letting the grass grow under their feet – as you’ll see below.

U.S. consumers are being told that the rest of the world is about to collapse but there’s a “highly buoyant … economic recovery” in this country. Well, if that’s so;

– Why is Hewlett-Packard about to cut up to 25,000 jobs? And why are shaky airlines like U.S. Airways and AA trying to work out a merger? Do you suppose they’re making money?

– And didn’t the Georgia Ports Authority Executive Director just attribute his ports 2012 decline to “a very fragile U.S. economic recovery (?) and ongoing consumer uncertainty for the balance of 2012?”

Here’s how the U.S. “recovery” – our declining demand for goods – is affecting the supply chain:

– The Journal of Commerce (May 22, 2012) – “Ocean Carriers Plan to Double Scrapping This Year – Ocean carriers and shipowners are set to scrap container ships totaling more than 200,000 TEU in 2012, more than twice the capacity sent to the breakers’ yards last year.” –

– Cargonews Asia (5/23/2012) – “Ship bargains galore as markets slows down – Global capacity and depressed freight rates has created a market for cashing in on bargains for newbuilds and second-hand vessels while prices are low and demand is soft.” –

The cause of these economic failings around the world? Unemployed Americans.