U.S. Containerized Exports Slowed in Second Quarter; China's Drop in Demand for Animal Feeds a Key Factor

NEWARK, N.J., Aug. 15, 2011 /PRNewswire/ -- Growth in U.S. containerized exports slowed to 6 percent in the second quarter compared to 12 percent growth in the previous quarter, according to The Journal of Commerce/PIERS research.

The slower growth, including a 2.1 percent year-over-year decline in June, left U.S. export volume up 9 percent in the first half of the year.

Weakening demand for pet and animal feeds, down 25 percent in the second quarter after a 6 percent decline a quarter earlier, was a substantial factor in the overall year-over-year export drop to 2,970,227 20-foot equivalent container units, or TEUs. Declining feed-shipment volume, a majority of which include distillers dried grains, can be attributed to the quarter's 59 percent drop in shipments to China, where antidumping investigations against U.S. DDGs continue, said Mario O. Moreno, economist for The Journal of Commerce and PIERS.

(Photo: http://photos.prnewswire.com/prnh/20110815/NY52595 )

U.S. meat exports to China, however, jumped 535 percent as rising incomes spur changing dietary practices and surging demand. Favorable exchange rates and rising salaries boosted demand for U.S. motor vehicles, sparking a 40 percent jump in second quarter volume.

Increases in manufacturing commodities such as scrap paper, up 9 percent to 432,475 TEUs, and metal scrap, ferrous and pig iron, up 56 percent to 69,466 TEUs, are encouraging for the overall global manufacturing picture, Moreno noted.

Geographically, the largest rise in exports was to Northeast Asia, up 5 percent to 1,282,130 TEUs, followed by Northern Europe at 12 percent to 372,606 TEUs. Exports to the Caribbean dropped 5 percent to 126,898 TEUs.

Overall U.S. exports fell 2.1 percent in June year over year, and by 1 percent from the first quarter to the second.

A full analysis of the JOC/PIERS findings is available at www.joc.com.

To become a member of The Journal of Commerce click here. JOC members have access to our weekly print and digital magazine and Web site, as well as a 10 percent discount on all JOC events and trade shows, UBM Global Trade Directories and select PIERS products. Authoritative editorial content in the form of daily news, weekly analysis and regular features ensure our members have the information and data necessary to understand the issues facing trucking, rail and maritime transportation. Members enjoy access to "By the Numbers," an exclusive weekly compilation of key industry statistics that provides detailed views of current market trends across all modes. Regular market intelligence reports -- utilizing PIERS trade data -- include Top 100 Imports and Exporters, quarterly Top 40 Container lines, Trans-Pacific and Trans-Atlantic Maritime Forecasts and Top Container Ports and Terminals. Market-sector supplements, including Breakbulk, Cool Cargoes, 3PL, JOC Guide to Trucking and others, ensure all modes are comprehensively covered.

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 LLC, 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).

Contact:
Mario O. Moreno, Economist
The Journal of Commerce/PIERS
+1-973-776-7850, [email protected]

SOURCE The Journal of Commerce & PIERS

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