Asia/US East Coast Shipments Continue to Rise

MarineLink.com
Monday, November 18, 2013
Graph credit Drewry Maritime Research, derived from CTS

The surprising surge in cargo volumes from Asia to the East Coast of North America since July remained strong in September, and even appears to have continued in October says a Drewry Maritime Research analysis.

Eastbound
Shipments from Asia to the East Coast of North America (ECNA) continued to grow impressively in September, reaching 382,000 teu. It brought the total for the peak season quarter up to 1.14 million teu, a startling 18% increase over the same period last year. In turn, this took the year-to-date increase up to 10%, which was significantly better than the West Coast’s 3%. It means that the East Coast’s proportion of the whole trade from Asia to North America reached 26.7% between January and September, compared to 25.2% for the whole of 2012.

The reasons for the gain are unclear, particularly as the East Coast’s freight rate premium has been rising, but presumably relate to ocean carriers’ much improved services via the Suez Canal and higher inland transport costs between West Coast ports and their hinterland. Whatever the reason, Chinese exports to North America are increasing impressively.

Westbound
Trade from the East Coast of North America to Asia remained lacklustre in September, reaching just 166,000 teu. Although this took y-o-y growth in Q3 up to 2%, the year-to-date volume was still 4% less than between January and September 2012. As the corresponding changes from WCNA were 6% and -0.5% respectively, East coast ports clearly lost market share.  Customs data for 3Q 13 is not yet available, so it is not possible to analyse this situation in more detail, although differing cargo mixes could well be partly responsible. More agricultural produce is shipped out of West Coast ports at this time of year.

Drewry's view
Poor economic growth in the US suggests that its surge in imports from Asia between July and October is artificial, and not only related to the peak season, so will be short lived. The implication is that the winter season will be harder than normal for ocean carriers.

Source: Drewry Maritime Research

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Kongsberg Expands Louisiana Office, Training Facility

Kongsberg Maritime has purchased approximately 5.2 acres for new construction on an 82,980 sq ft office and training facility. Construction on the James Business

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

Sjo Resigns from Polarcus Board of Directors

Polarcus Limited announced that Hege Sjo will resign from its board of directors effective February 2, 2015.   Sjo has accepted an appointment as Deputy Director

Ports

Congestion is Port of Long Beach’s Toughest Issue

Slangerup’s State of the Port address outlines goals for Energy Island, smarter supply chain   In his first-ever State of the Port address, Port of Long Beach

New Survey Vessel Ordered for the Port of London

The Port of London Authority (PLA) has ordered a new purpose-built survey catamaran, a CTruk MPC19, due to enter service on the river Thames later this year.   The

Yemen Lifts Force Majeure on LNG Deliveries

Yemen on Friday lifted force majeure on liquefied natural gas (LNG) deliveries from its Balhaf plant, trading sources with knowledge of the matter said. Reuters reported last week that the 6.

News

Imabari to Build 20,000TEU Containerships

Imabari Shipbuilding Co., Ltd. announced it has secured newbuild orders with the cooperation of Marubeni Corporation for 11 units of 20,000TEU Ultra-Large Container Carriers,

Kongsberg Expands Louisiana Office, Training Facility

Kongsberg Maritime has purchased approximately 5.2 acres for new construction on an 82,980 sq ft office and training facility. Construction on the James Business

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

Logistics

Congestion is Port of Long Beach’s Toughest Issue

Slangerup’s State of the Port address outlines goals for Energy Island, smarter supply chain   In his first-ever State of the Port address, Port of Long Beach

Shippers Must Monitor Greek Government Changes

Moore Stephens says shipping must monitor developments in wake of Greek government change   International accountant and shipping adviser Moore Stephens says

ISS Palumbo UK Acquires Union Transport

ISS Palumbo UK, part of maritime services provider Inchcape Shipping Services (ISS), has acquired U.K. freight forwarding specialist Union Transport (Newcastle) Ltd.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Sonar
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: 0.1759 sec (6 req/sec)