U.S. Containerized Exports Climb for 8th Consecutive Quarter
NEWARK, N.J., Nov. 17, 2011 /PRNewswire/ -- Led by strong demand for agricultural products in Asia, U.S. containerized exports expanded 6.7 percent in the third quarter, according to figures released today by The Journal of Commerce/PIERS, leaving export volume from the United States up 8.3 percent through the first nine months of 2011.
Westbound trans-Pacific trade for the third quarter rose 10.4 percent year-over-year to 1,653,158 20-foot-equivalent units, pushed by a surge in exports to China. The top market for U.S. exports, China followed its second quarter increase of 6 percent with a 13 percent jump in the third quarter to 652,069 TEUs.
An increase in grain containerization and strong demand for wastepaper and scrap metal contributed to the third quarter total of 2,933,396 TEUs exported, which marked the eighth consecutive quarter of containerized exports growth.
"Grain importers in China are finding financing more readily available when their shipments are containerized, which is driving a shift in shipment methods for grains and soybeans," said Mario O. Moreno, economist for The Journal of Commerce/PIERS, noting a third quarter leap of 98 percent in containerized soybean volumes to 40,298 TEUs.
The results were in line with Moreno's forecast of 6.3 percent growth in exports in the quarter and a forecast of 10 percent growth in the trans-Pacific market, as outlined in The Journal of Commerce's recent Container Shipping Outlook.
The westbound trans-Pacific volumes represented 56 percent of total exports. Shipments to Taiwan, Korea and Australia rose 24 percent, 12 percent and 19 percent, respectively, while exports to Italy dropped 23 percent to 31,275 TEUs.
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About PIERS -- PIERS is the most comprehensive database of U.S. waterborne trade activity in the world providing information services to thousands of subscribers globally. Launched more than 35 years ago, PIERS was the first venture in digital global trade intelligence and quickly became the industry standard for accuracy, reliability and insight. Our unique infrastructure and proprietary technology allow us to not only publish import data but also complete coverage of U.S. export transactional data. PIERS is a division of UBM Global Trade, and a sister company of The Journal of Commerce. For more information, visit www.piers.com, or call 800-952-3839 (+1-973-776-8660).
About UBM Global Trade -- UBM Global Trade is the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, Breakbulk, RailResource, PIERS and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of UBM plc, is headquartered in Newark, NJ, with offices throughout the United States. For more information, explore www.ubmglobaltrade.com or call 800-223-0243 (+1-973-848-7250 outside the U.S. or Canada).
SOURCE The Journal of Commerce/PIERS
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