U.S. Containerized Exports Reach Three-Month High in August, Strong Gains in Scrap Metals and Soybeans

NEWARK, N.J., Oct. 13, 2011 /PRNewswire/ -- Rising incomes in key markets and a depressed dollar helped push U.S. containerized exports in August up 5.4 percent year-over-year, marking a three-month high, reported The Journal of Commerce/PIERS this week. Overall containerized exports rose 1.2 percent over July volumes and 8 percent year to date, through August.

Measured in 20-foot equivalent units, the exports totaled 977,330 TEUs for a second consecutive monthly gain. Volumes were led by an impressive 119 percent jump in soybean shipments and 32 percent boost in scrap metals.

"The notable jump in soybeans is likely tied to declining container freight rates, which has prompted many U.S. agricultural exporters to switch from bulk to container transportation," said Mario O. Moreno, economist for The Journal of Commerce/PIERS. On the low end, he noted that severe drought in West Texas has caused fabrics including raw cotton to continue its downward trend, losing 52 percent of its outbound volume.

Total U.S. exports in July and August were up 5.2 percent over the same period last year, in line with a previous forecast of 6.3 percent gains in the third quarter. Moreno predicts 2011 will close with total containerized exports up 6 percent from 2010.

A full analysis of the JOC/PIERS findings is available online 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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