News
Asia exported 1.325 million TEUs of containers to the U.S. in August, growing 5% year on year and exceeding the 1.3-million-TEU line for the first time in six years and 11 months, or since September 2007, according to a report released recently by the Japan Maritime Center (JMC). From January to August, a total of 9.604 million TEUs were moved on the trade, increasing 5.6% and breaking the record established in 2007. It is anticipated that housing and consumption in the U.S. will continue to experience high demand in and after September, keeping containerized shipments from Asia from decreasing severely. As such, the JMC projects that a new record will be set this year, if a monthly average of 1.2 million TEUs is maintained for the rest of the year.
The JMC, which had compiled the report from statistic data provided by the Port Import/Export Reporting Service (PIERS) of the U.S., added that exports from Japan swelled 4.2% from a year earlier to 54,000 TEUs in August, enjoying a year-on-year increase for the seventh consecutive month. Those from China rose 4.2% to 878,000 TEUs, thanks to increases in general electrical appliances and other commodities, achieving growth from a year earlier for six months in a row. Containers from China and Hong Kong amounted to 914,000 TEUs in total, climbing 3.9% to help the economies hold a combined share of 69%. Those from South Korea and Taiwan were both brisk, hiking 8% to 63,000 TEUs and 16.6% to 51,000 TEUs.
Shipments from Southeast Asia increased year on year for six consecutive months, growing 6.3% to an all-time high of 172,000 TEUs in total, the JMC said. Those from Vietnam also improved for six straight months, soaring 16.4% to 64,000 TEUs to account for 4.8% of the pie. The Southeast Asian economy outpaced South Korea, which held a share of 4.7%, to become the second-largest source of commodities destined to the U.S., following China.
The JMC report indicated that exports from Southern Asia improved 7.9% year on year in August to a record 70,000 TEUs. Those from India were a major driving force, surging 13.6% to 49,000 TEUs, which was also a record high.
