{"id":70960,"date":"2023-05-23T00:00:00","date_gmt":"2023-05-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/23\/us-ports-are-suffering-from-an-import-hangover-alibaba-spins-off-cloud-division\/"},"modified":"2023-05-23T00:00:00","modified_gmt":"2023-05-23T00:00:00","slug":"us-ports-are-suffering-from-an-import-hangover-alibaba-spins-off-cloud-division","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/23\/us-ports-are-suffering-from-an-import-hangover-alibaba-spins-off-cloud-division\/","title":{"rendered":"US ports are suffering from an import \u201changover\u201d + Alibaba spins off cloud division"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">US ports are experiencing a \u201changover\u201d from the shipping surge in 2021 + 2022:<\/span><span style=\"\"> Seaports in the US are facing a challenging year, with imports falling y-o-y at double digits for months, despite consistently seeing monthly increases of imports,<\/span><span style=\"\">the Wall Street Journal <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/u-s-seaports-are-weathering-a-numbers-hangover-in-import-volumes-b19dc69f\" style=\"\">reports<\/a><\/span><span style=\"\">. Business has been rising on a m-o-m basis, surpassing box volumes pre-pandemic in 2019.<\/span><span style=\"font-weight:400;\"> \u201cIt sounds like the sky is falling,\u201d an analyst at Bloomberg Intelligence said. \u201cBut when you are looking relative to where we are today versus [before the pandemic] we are up mid-single digits.\u201d Shipping industry officials say the figures suggest a return to normal trade patterns rather than a cargo collapse.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">China\u2019s <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.alibabagroup.com\/en-US\/\" style=\"\">Alibaba Group<\/a><\/span><span style=\"font-weight:700\"> is fully spinning off its cloud division <\/span><span style=\"\">through a stock dividend<\/span><span style=\"\"> distribution to shareholders, CEO Daniel Zahang <\/span><span style=\"\">said in the company\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230517005640\/en\/Alibaba-Group-Announces-March-Quarter-and-Full-Fiscal-Year-2023-Results\" style=\"\">e<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230517005640\/en\/Alibaba-Group-Announces-March-Quarter-and-Full-Fiscal-Year-2023-Results\" style=\"\">arnings release<\/a><\/span><span style=\"font-weight:400;\">. The parent company surpassed earnings expectations with net income increasing 39% y-o-y to RMB 65.6 bn during its fiscal year, which ends on 31 March, while revenues rose 2% y-o-y to RMB 868.7 bn during the same period. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US ports are experiencing a \u201changover\u201d from the shipping surge in 2021 + 2022: Seaports in the US are facing a challenging year, with imports falling y-o-y at double digits for months, despite consistently seeing monthly increases of imports,the Wall Street Journal reports. Business has been rising on a m-o-m basis, surpassing box volumes pre-pandemic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[56],"tags":[162,17,55,549],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-70960","post","type-post","status-publish","format-standard","hentry","category-logistics-in-the-news","tag-e-commerce","tag-enterprise-logistics","tag-logistics-in-the-news","tag-port","wpautop","entry"],"acf":{"mongo_id":"b9afc7e4-1f43-453c-a199-5590fcccde3d","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1225.jpg,https:\/\/www.alibabagroup.com\/en-US\/resource-campus","photo_position":"above","homepage_title":"","full_issue_title":"US ports are suffering from an import \u201changover\u201d + Alibaba spins off cloud division","related_issue":[70949],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.b52cd21d-ada3-4b6e-821d-27bec2885e62.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>US ports are suffering from an import \u201changover\u201d + Alibaba spins off cloud division - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/05\/23\/us-ports-are-suffering-from-an-import-hangover-alibaba-spins-off-cloud-division\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US ports are suffering from an import \u201changover\u201d + Alibaba spins off cloud division\" \/>\n<meta property=\"og:description\" content=\"US ports are experiencing a \u201changover\u201d from the shipping surge in 2021 + 2022: Seaports in the US are facing a challenging year, with imports falling y-o-y at double digits for months, despite consistently seeing monthly increases of imports,the Wall Street Journal reports. 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