12:15pm | Port of Long Beach executive director gets the CNBC treatment today in an interview with host Nicole Lapin on the recovery of the shipping industry and the ports as a barometer of economic growth. Steinke predicts improving traffic at the port to continue when July numbers are released, and looks ahead to a holiday season more profitable than the last.

Accurate analysis or wishful thinking? Port traffic numbers are still far below their 2006 peaks but have been steadily improving in recent months. Steinke certainly has reason to believe that the industry is turning around and that does bode well for the economy, but undoubtedly there is still a long way to go. What say you?