News
In August 2011, 1.221 million TEUs of containers were traded from Asia to the U.S., according to a preliminary report released by the Japan Maritime Center （JMC）.
Quantitatively, they were the best monthly performance so far in the calendar year, but from a year earlier, they were down 3.6%, which represented a year-on-year decrease for three months in a row.
As a consequence, 8.717 million TEUs were exported to the U.S. from Japan and 17 other Asian countries and regions in the first eight months of 2011, up 1.4% from the corresponding period of 2010.
As the growth became smaller than before, it is more likely that on a yearly scale, eastbound containers from Asia to the U.S. suffered negative growth.
The JMC, which compiled the report from statistical data provided by PIERS of the U.S., added that in August, exports from Japan were favorable thanks to briskness in auto-related commodities.
On the other hand, exports from China were sluggish, incurring a year-on-year fall for the third consecutive month.
Furniture, garments and general electrical machinery, all of which were major items handled on the eastbound trade, went down due to the slowdown in the U.S. economy.
Containers from South Korea also waned for three straight months owing to a reduction in white goods.
Shipments from Southeast Asian nation all grew so slowly that those on the trade from the region were stagnant across the board.
Freight rates continued to fall from the autumn of 2010.
Those for services bound for North America, which were US$3,115 per TEU on Sept. 5, 2010, plunged to $2,006 per TEU on October 9, 2011, according to the China Container Average Freight Index （CCAFI） of China Shipping Co. Ltd.
As shipping companies are suspending services successively now, it is anticipated the balance between tonnage supply and cargo demand will become tighter.
As such, it is projected the shipping business will remain sluggish.
