A shipping consultant estimated ocean container shipments from Asia to the U.S. at 1.23 million 20-foot equivalent units in June, a 32 percent increase on a year ago driven by Chinese exports.
This is a record for June shipments, exceeding the previous high of 1.2 million TEUs in June 2007, Alphaliner, the Paris-based consultancy said, quoting preliminary U.S. customs statistics.
Chinese exports reached 840,000 TEUs in June, mostly loaded in May when Chinese ports booked their highest monthly throughput.
The shipments were booked before the June 19 announcement by China that it would allow the renminbi to float more freely against the U.S. dollar.
While the Chinese currency has appreciated by only 0.8 percent since the announcement, Chinese port traffic figures will be watched closely for any signs of a slowdown in cargo volume, Alphaliner said. A renminbi appreciation and recent wage increases in China following labor unrest likely will impact export volume in the coming months.
Alphaliner says it is still unclear whether U.S. imports from China will be replaced by similar low cost imports from Bangladesh, India, Indonesia and Vietnam or if overall imports from Asia could fall as a result.
Nils Andersen, chief executive of A.P. Moller-Maersk, parent of Maersk Line, said over the weekend he does not expect container shipping to be significantly impacted by a possible economic slowdown in China.
Far East-U.S. container traffic grew 18 percent in the first six months of the year from the same period in 2009 and surged 23 percent in the second quarter, according to Alphaliner.
Ocean carriers boosted capacity by 20 percent between January and June in response to the surge in cargo demand which has resulted in a doubling of spot freight rates from Asia to the U.S. West Coast since the beginning of the year.
The Journal of Commerce Online
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