Not a great transpacific year, but better than last, says Drewry
THIS year's peak season from Asia to the west coast of North America started slowly, but grew in July and August, but not enough to stop falling rates despite carrier discipline in limiting capacity.
According to Container Trades Statistics (CTS), cargo volumes increased 6.4 per cent in July, reaching 1,016,000 TEU compared to the previous three month's average of 955,000 TEU.
July's traffic brought the year-to-date total up to 6,312,000 TEU, representing a 1.9 per cent year-on-year increase.
"This was much better than last year's performance, when growth of just one per cent was recorded between the same two periods," said Drewry Maritime Research.
"The best of this year's eastbound peak season is over, so, apart from the capacity reduction measures already announced, either further services will have to be withdrawn from next month onwards, or more sailings cancelled, to keep vessel utilisation above 85 per cent," said Drewry analysts.
August LA-Long Beach Asian containerised imports were up three per cent more than in July, but if one assumes that September's growth will be a further five per cent it would still make the third quarter's total 12 per cent greater than that of the second quarter, said the Drewry report.
American GDP estimates were up 2.5 per cent year on year in the second quarter - considerably better than Europe's - not enough for the Fed to ease up on stimulus schemes.
THIS year's peak season from Asia to the west coast of North America started slowly, but grew in July and August, but not enough to stop falling rates despite carrier discipline in limiting capacity.
According to Container Trades Statistics (CTS), cargo volumes increased 6.4 per cent in July, reaching 1,016,000 TEU compared to the previous three month's average of 955,000 TEU.
July's traffic brought the year-to-date total up to 6,312,000 TEU, representing a 1.9 per cent year-on-year increase.
"This was much better than last year's performance, when growth of just one per cent was recorded between the same two periods," said Drewry Maritime Research.
"The best of this year's eastbound peak season is over, so, apart from the capacity reduction measures already announced, either further services will have to be withdrawn from next month onwards, or more sailings cancelled, to keep vessel utilisation above 85 per cent," said Drewry analysts.
August LA-Long Beach Asian containerised imports were up three per cent more than in July, but if one assumes that September's growth will be a further five per cent it would still make the third quarter's total 12 per cent greater than that of the second quarter, said the Drewry report.
American GDP estimates were up 2.5 per cent year on year in the second quarter - considerably better than Europe's - not enough for the Fed to ease up on stimulus schemes.