News
In March 2011, eastbound container trade from Japan and 17 other Asian economies to the U.S. was sluggish, according to a report released recently by the Japan Maritime Center （JMC）.
As exports from China decreased significantly, the total fell 8.8% to 855,000 TEUs, suffering the first year-on-year decline in 16 months.
The volume, which registered a plunge of 13.1% from February 2011, did as poorly as in March 2009, several months after the bankruptcy of U.S. financial service provider Lehman Brothers Holdings Inc.
On the other hand, the JMC, which compiled the report from statistical data provided by PIERS of the U.S., added that westbound container movement from the U.S. to Asia surged 13.5% to 606,000 TEUs, exceeding the 600,000-TEU line for the first time to reach an all-time high.
The cumulative volume of containerized shipments from Asia to the U.S. improved 3.4% from a year earlier to 2.957 million TEUs in the first quarter （January-March） of 2011, but the improvement was smaller than the corresponding three months of 2010, the JMC said.
Those from the U.S. to Asia continued to mark a double-digit hike, soaring 11.4% to 1.673 million TEUs.
Looking at containers carried eastbound from Asia to the U.S. in March 2011 by country of origin, the JMC report indicated those from China diminished 12.5% to 503,000 TEUs, incurring the first year-on-year decrease in 16 months.
They managed to hold the largest share of the pie, accounting for 58.8%, but in terms of percentage, they fell below 60% for the first time in three years.
The JMC analyzed that consumption was weak in America resulting from the appreciation of the Chinese yuan against the U.S. dollar as well as the rises in the prices of gasoline and other commodities.
As such, furniture, garments and other major items that American consumers buy from China plummeted severely, the JMC added. Exports from Hong Kong waned 21.4% to 26,000 TEUs, recording a double-digit contraction for two months in a row.
Containers from Japan went down 8.6% to 52,000 TEUs, which represented the first year-on-year decline in 15 months, due to the decrease in auto production in North America as well as the decline in industrial output and the turmoil in the logistics network in Japan in the aftermath of the Great East Japan Earthquake.
In contrast, those from South Korea climbed 0.1% to 58,000 TEUs, as auto-related shipments remained on an upward trend. They swelled 13.5% from a month earlier, holding a record-high share of 6.8%. Exports from Taiwan enjoyed a year-on-year increase for the 15th consecutive month, rising 4.6% to 38,000 TEUs.
