Container Shipments Increase in July

Ocean container shipment activity rose in July following historic trends, with import activity showing a sharp increase and exports a softer rise.

The expected port disruptions on the West coast due to the International Longshore and Warehouse Union (ILWU) contract expiration and unresolved contract negotiations has not materialized, but there were still some shifts of shipments to East and Gulf Coast ports.

Ocean container exports increased 3.5 percent in July after three consecutive months of contraction.

Demand for export goods globally has been much lower than in recent years because of the precarious situation in many of the world’s economies.

July’s export container level is 12.1 percent lower than in the same month a year ago and well below the same month in every year since the start of the index in 2010.

New export orders have not risen substantially this year and are not expected to pick up much steam for the remainder of 2014.

Source: Cass Information Systems

Category: General Update