U.S. Containerized Imports Rebound in March, Up 7.3 Percent
NEWARK, N.J., May 1, 2012 /PRNewswire/ -- Driven by a surge in furniture and auto parts shipments to the U.S., containerized imports in March rose 7.3 percent over 2011. This increase to 1,373,301 20-foot equivalent units came on the heels of a 5.9 percent decline in February.
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On a month-to-month basis, overall imports climbed 15.2 percent in March, following a contraction of 19 percent in February. For the first quarter, overall imports advanced 2 percent year-over-year to 4,032,857 TEUs, which compared favorably to the 1.5 percent forecast in the March 2012 issue of JOC Container Shipping Outlook.
"Latest TEU data supports my view of very modest imports growth through the second half of the year," said Mario O. Moreno, economist for The Journal of Commerce/PIERS. "Although the US economy is showing signs of deceleration, it will likely be momentary as the FED has made it clear it is prepared to do more if conditions worsen. Imports growth should regain speed in the second half of the year."
Imports from Asia for the first quarter barely rose 0.5 percent versus Moreno's forecast of 1 percent. On a country level, shipments from China showed the most gains, up 13 percent, or 66,681 TEUs, to a total of 579,181 TEUs. This sharp jump in shipments from China is mostly owed to an easier year-over-year comparison with March 2011 base as the 2012 Lunar New Year came early, Moreno said.
More of Moreno's trade and economic analysis can be found in his April 26 blog post or by following on Twitter @MarioMoreno_JoC.
To become a member of The Journal of Commerce click here. Only JOC members get full access to all content and data on www.joc.com, access to the information needed to fully understand all the issues facing trucking, rail and maritime transportation. In addition, members get the weekly magazine, special reports, free webinars, the JOC mobile app, the JOC Daily Newswire and discounts to all JOC conferences and events. 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 plc, is headquartered in Newark, NJ, with offices throughout the United States. For more information, explore www.ubmglobaltrade.com or call 800-223-0243 (+1-973-776-8660 outside the U.S. or Canada).
SOURCE The Journal of Commerce & PIERS
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