Issue link: https://jocdigital.uberflip.com/i/419133
www.joc.com THE JOURNAL OF COMMERCE 41 JOC By the Numbers TOP 10 U.S. TRADING PARTNERS Canada $233.9 19.4% Mexico $179.5 14.9% China $86.9 7.2% Japan $50.5 4.2% United Kingdom $40.2 3.3% Germany $37.7 3.1% Korea, South $33.7 2.8% Netherlands $32.7 2.7% Brazil $32.2 2.7% Hong Kong $30.3 2.5% Total Top 10 $757.6 62.7% Total U.S. Export Trade $1,208.4 100.0% China $338.8 19.4% Canada $260.0 14.9% Mexico $218.7 12.5% Japan $99.8 5.7% Germany $91.6 5.2% Korea, South $51.2 2.9% United Kingdom $40.1 2.3% Saudi Arabia $38.7 2.2% France $35.0 2.0% India $34.2 2.0% Total Top 10 $1,208.1 69.1% Total U.S. Import Trade $1,749.3 100.0% U.S. EXPORTS TO U.S. IMPORTS FROM Jan.- Sept. 2014 Volume Jan.- Sept. 2014 Volume Market % Share Market % Share ■ IPI ● Growth Rate 115 120 125 130 135 -30% -20% -10% 0% 10% 11/14/2014 11/15/13 Source: Economic Cycle Research Institute, www.businesscycle.com Via all modes of transportation. Source: U.S. Census Bureau, Division of Foreign Trade, U.S. Department of Commerce www.census.gov/foreign-trade/statistics/highlights/top/top1409yr.html#total JOC–ECRI INDUSTRIAL PRICE INDEX* n The JOC-ECRI Industrial Price Index was developed by the Economic Cycle Research Institute and is a leading indicator of inflation based on a broad assortment of raw materials used in industrial production. The IPI growth rate compares the latest week's index with the IPI's average over the past year. Sliding to a level not seen since early August 2012, the JOC-ECRI industrial price index for the week ending Nov. 14, 2014 sequentially dropped 1.9148 points to 117.7408 in its 11th consecutive week in decline. The JOC-ECRI IPI growth rate sequentially tumbled 2.7638 percentage points to a negative growth rate of 13.3688 percent in its ninth consecutive week of increasing negative growth following 39 consecutive weeks in positive growth. ■ Rate per 40-foot box $1,500 $1,750 $2,000 $2,250 $2,500 -75% -50% -25% 0% 25% Year-over-year Week-over-week 11/17/14 11/18/13 PERCENT CHANGE: ● Year-over-year ● Week-to-week DREWRY CONTAINER RATE BENCHMARK n The Hong Kong-Los Angeles benchmark is based on Drewry Shipping Consultants' research and derived from NVOCCs. The rate is in dollars and based on a full 40-foot containerload, excluding terminal-handling charges in Hong Kong. $300 jump in week: The Nov. 17, 2014, average spot market rate from Hong Kong to Los Angeles sequentially jumped $300 or 16.4 percent to $2,125 per FEU. This benchmark level is up $139 or 7 percent year-over-year and up $475 or 28.8 percent from its year-to-date low of $1,650 in June. $250 below Sept. 1: The Nov. 17 average spot rate was $250 or 10.5 percent below the year-to-date high of Sept. 1 and $756 or 26.2 percent below the Drewry benchmark record high of $2,880 per FEU of Aug. 6, 2012. Source: Drewry's Container Freight Rate Insight, www.drewry.co.uk ADVERTISERS C.H. Robinson, www.accelerateyouradvantage.com ............................33 CT Logistics, www.ctlogistics.com .............................. 21 Emirates SkyCargo, www.skycargo.com .......................5 Global Foreign Trade Conference, www.gaforeigntrade.com ........................................... 37 Mediterranean Shipping Co., www.mscgva.ch .............2 MOL, www.countonmol.com ..................................... 48 North Carolina Ports, www.ncports.com ....................25 nVision Global, www.nvisionglobal.com/ ...................23 Specialized Carriers & Rigging Association, www.scranet.org/affinity ............................................. 27 SMC3, www.smc3.com/mercurygate ........................... 31 United States/Australasia Discussion Agreement ........7 United States Portal Service, www.usps.com/yourway ............................................47 U.S. Bank Freight Payment, www.usbpayment.com/freight-payment ...................... 19 Yang Ming Line, www.yangming.com ......................... 9 Goods, in billions of U.S. dollars n October 2014 cargo traffic throughput at Hong Kong International Airport was 383,000 tons, spiked 4.3 percent above October 2013. The chief volume driver in October was the 15 percent year-over-year increase in transshipments, driven especially in its trade with Southeast Asia and North America. Total HKIA cargo traffic in the first 10 months of 2014 was 3.6 million tons, up 6.4 percent year-over-year. The airport notes its winter flight schedule, begun at the end of October, has an average of about 1,000 daily flights — that is operating very close to its practical maximum capacity of 420,00 aircraft movements per year. HONG KONG INT'L AIRPORT CARGO TRAFFIC ■ Cargo Tonnage Handled ● Year-over-year percent change ■ Cargo Tonnage Handled ● Year-over-year percent change 200 250 300 350 400 450 -45% -30% -15% 0% 15% 30% O S A J J M A M F J 2014 D N O S A J J M A M F J 2013 D N O S A J J M A M F J 2012 D N O S A J J M A M F J 2011 200 250 300 350 400 -30% -15% 0% 15% 30% J'14 J'13 J'12 J'11 ■ Cargo Tonnage Handled ● Year-over-year percent change 200 250 300 350 400 -30% -15% 0% 15% 30% O S A J J M A M F J 2014 D N O S A J J M A M F J 2013 D N O S A J J M A M F J 2012 D N O S A J J M A M F J 2011 *Cargo handled includes import, export and transshipment (counted twice) cargoes. Air mail is excluded. Source: Hong Kong Airport, www.hongkongairport.com/eng/media/facts-figures/air-traffic-statistics.html In thousands of tons*