PIERS Trade Horizons Reports on Imports

Thursday, March 19, 2009

The global recession began to hammer waterborne commerce during the second half of 2008, according to the latest containerized import-export statistics from PIERS Trade Horizons. The just-released numbers dash any lingering hopes that demand from emergent economies for U.S. exports would provide a silver lining in an otherwise darkening outlook.

PIERS Trade Horizons reports that U.S. imports, which had been declining since the start of 2008, plunged 10.5% in the last quarter to end the year down 7.9% from 2007. PIERS Trade Horizons had forecast a drop of 7.6%.

U.S. exports, which had continued to grow in the first three quarters of 2008, albeit at a slowing pace (20.8% in first quarter, 13.5% in the second and 9.0% in the third), went into sharp reverse, falling 16.9%. While exports finished 2008 up 5.8%, the year's gain compares poorly with the 17.5% growth recorded in 2007. PIERS Trade Horizons had forecast 9.7% growth.

PIERS Trade Horizons statistics on U.S. containerized trade with the rest of the world are the latest available. The quarterly publication recently announced processing improvements that enable even earlier release of verified data: Effective in 2009, data on the actual number of TEUs (20-foot-equivalent units - the standard container measure) shipped during a quarter will be released one month after the close of that quarter.

PIERS Trade Horizons also forecasts container trade two years out. PIERS economists are anticipating a relatively long-lived recession and a U-shaped recovery where flattened growth persists for a prolonged period. This contrasts with a V-shape recovery where steep decline is quickly followed by steep recovery. More, economic prospects are poor around the globe.

The impact on U.S. container trade will be significant. PIERS Trade Horizons forecasts a 2.8% decline in import volumes this year, and a weak recovery to 1.5% growth in 2010. Exports, which posted a 5.8% gain last year, are forecast to contract 6.6% in 2009 and fall a further 1.3% in 2010.

PIERS Trade Horizons provides quarterly statistics on U.S. waterborne import-export trade on the past two years, forecasts trade quarter-by-quarter two years out, and analyzes the commercial and economic factors driving the numbers.

(www.piers.com)

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Kalmar to Supply 4 RTGs to Super Terminais, Brazil

Kalmar, part of Cargotec, will deliver four E-One2 Zero Emission rubber-tyred gantry cranes (RTGs) to Super Terminais in Manaus, Brazil. The 8 million USD order

Skangass Granted Permission for LNG Terminal

The Swedish Government (Länsstyrelsen in Dalarnas Län) has granted Skangass permission to build and operate a new Terminal for LNG (Liquefied Natural Gas) within the harbour in Gävle, Sweden.

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

 
 
Maritime Contracts Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1115 sec (9 req/sec)