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April 29 2019

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April 29 2019 | The Journal of Commerce 43 www.joc.com JOC By the Numbers Advertisers JOC-ECRI Industrial Price Index Port of Houston's growing cargo volume Top trade winners, losers in no-deal Brexit Source: Economic Cycle Research Institute Source: IHS Markit Source: UN Conference on Trade and Development © 2019 IHS Markit © 2019 IHS Markit © 2019 IHS Markit The JOC-ECRI Industrial Price Index was developed by the Economic Cycle Research Institute (ECRI) and is a leading indicator of inflation based on a broad assortment of raw materials used in industrial production. INCHES DOWN: The JOC-ECRI Industrial Price Index for the week ending April 12, 2019, was 95.78, decreasing 2.072 points from the prior week. The rate is 2.369 points below the 2019 high of 98.16 set March 22. Total TEU volume at Port of Houston with year-over-year change Over the last four years, total cargo volumes in the Port of Houston increased 36 percent, reaching 2.23 million TEU in 2018 as cargo volume grew 10.4 percent from last year. Growth has been steady at the port, with export traffic falling only in 2016 over the four-year period, according to PIERS, a sister product of The Journal of Commerce within IHS Markit. That growth has raised concerns among the industry about the impacts of a new rule limiting calls of ships larger than 9,000 TEU to once a week. UNCTAD estimates of exports to the United Kingdom Under a no-deal Brexit scenario, smaller economies trading with the United Kingdom could be damaged and European Union exports to the UK could crash hard. The United Nations Conference on Trade and Development estimated that China and the US could be the biggest beneficiaries in this scenario. ■ IPI 90 95 100 105 110 115 4/12/2019 4/13/2018 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 2018 2017 2016 2015 2014 ■ Export ■ Import Total +3.8% +12% +7.5% +5.7% +2.5% +3.5% +19.8% +11.6% +11.6% +10.4% +9% -0.4% -$40,000 -$30,000 -$20,000 -$10,000 $0 $10,000 $20,000 European Union Turkey Republic of Korea Pakistan Norway South Africa Thailand Japan US China Millions of Dollars Drewry Hong Kong-Los Angeles Spot Rate Benchmark Source: Drewry Shipping Consultants © 2019 IHS Markit The rate shown here is in dollars and excludes terminal-handling charges in Hong Kong. Drewry tracks spot rates on 600- plus global lanes including Hong Kong-Los Angeles by surveying NVOCCs and also tracks contract rates on 8,000-plus lanes via its BCO Benchmarking Club. HOLDS STEADY: The April 17, 2019, average spot market rate from Hong Kong to Los Angeles of $1,603 remains flat from the prior week and is up $412 or 34.6 percent year over year. The April 17, 2019, average spot rate of $1,603 was down $605 or 27.4 percent from the calendar 2019 high set in the third week of January, while $1,277 or 44.3 percent below the Drewry benchmark record high of $2,880 per FEU of Aug. 6, 2012. ■ Rate per 40-foot box $500 $1,000 $1,500 $2,000 $2,500 $3,000 -100% -50% 0% 50% 100% 150% 4/17/19 4/16/18 PERCENT CHANGE: ● Year-over-year ● Week-to-week High: $2,880 8/6/12 Low: $623 4/25/16 American Independent Line, www.aishipping.com ... 22 Cosco Shipping, www.cosco-usa.com ............................ 9 Florida Ports Council, www.flaports.org ....................... 39 98th Annual AAEI Conference and Expo, www.aaei.org ...................................................................... 25 PhilaPort, www.philaport.com ....................................... 15 Port Canaveral, www.portcanaveral.com ....................... 2 Port of Baltimore, www.marylandports.com ............... 27 Port of Jacksonville, www.jaxport.com/cargo ............. 41 Port of Virginia, www.portofvirginia.com ...................... 45 Ports America, www.portsamerica.com ....................... 23 TOTE Maritime, www.totemaritime.com ...................... 37 Transportation Marketing & Sales Association, www.tmsatoday.org .......................................................... 47 World Trade Week NYC, www.worldtradeweeknyc.org ......................................... 29 Yang Ming Line, www.yangming.com .............................. 5

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