2020-07-20
Due to the recovery of the US economy and the increased willingness of the middle class to spend, the volume of sea containers exported from Asia to the US in 2014 was close to the highest point in history. According to data provided by Zepol, the number of containers imported by the United States from Asia in 2014 increased by 6.8% compared with 2013, and the annual import volume reached 14.23 million TEU. The highest record in history was 2007, when the volume reached 14.24 million TEU.
Since the 1990s, the volume of containers exported from Asia to the United States has steadily increased, but in 2008 and 2009, due to the financial crisis, it fell to the bottom. The container shipping market began to pick up in 2013, mainly due to the steady increase in demand in many cargo markets in 2014. For example, the market for automobile trade and housing-related products (furniture, flooring materials) was very hot in 2014, and the demand for toys and clothing soared during the Christmas season.
China accounts for 60% of the total imports of US containers in Asia, an increase of 6.9% compared to 2013, ranking first. Second place, South Korea's container volume exported to the United States also increased by 3.2% year-on-year.
Taiwan's trade volume, ranked fourth, rose by 11.7%. Singapore’s trade volume as an exporter rose by 17.4%, surpassing Japan. The volume of Japanese exports to the United States was 610,000 TEUs, a year-on-year increase of 3.8%.
Nevertheless, the ports on the west coast of the United States have been mired in labor disputes since May, and the turnover rate of ships has declined since then because of the increasing blockage of ports. This situation has affected importers' considerations when selecting ports by sea, and has also caused an increase in freight rates.
In order to avoid the uncertainties and cost problems caused by blocked ports, more and more importers are willing to choose ports on the east coast. Currently, from Asia to the east coast of the United States, the freight for a 40-foot container is $4,500 per box, an increase of 40% over the same period last year. In comparison, the freight for containers to the West Coast is $1,900 per box, which is only a 3% increase.
The transportation demand of other container routes is also rising. From January to October 2014, the container transport volume from Asia to Europe was 12.9 million TEU, an increase of 8.9% compared to the same period. Container transportation within Asia, including those on routes to China, Japan and Southeast Asia, also increased by 2.3% from January to September 2014.
