East Coast container trade volume rose 5.5 percent in the first 10 months of 2011 compared to the same period in 2010, to 10.8 million 20-foot equivalent units, and outperformed the total U.S. laden container trade growth of 4.4 percent.
Just four ports — New York-New Jersey, Georgia, Virginia and South Carolina ports — held 68.4 percent of East Coast exports and 74.4 percent of East Coast imports, accounting for 71.6 percent of the total East Coast container trade in the January-October 2011 period, according to PIERS, a sister company of The Journal of Commerce.
Among the Top 10 East Coast ports, North Carolina led 10-month year-over-year trade growth at 14.4 percent. Port Everglades was second with 9.4 percent growth, and Miami third with 9.2 percent growth. Container volume at the Port of Baltimore rose 6.5 percent in the 10-month period year-over-year. Georgia ports saw 6.1 percent growth; New York-New Jersey, 5.3 percent; Jacksonville, 5 percent; the Delaware River ports, 4.4 percent; the South Carolina ports, 3.6 percent; and Virginia, 2.2 percent.
East Coast containerized imports advanced 5.1 percent year-over-year during the January-October 2011 period, to 5.8 million TEUs.
The growth looks different when compared to the pre-recession 2008 period. Imports in the first 10 months of 2010 were flat compared to 2008. Although East Coast exports were up 6 percent year-over-year to almost 5 million TEUs during January-October 2011, exports were down 1.2 percent compared to the same period in 2008.
Overall U.S. exports were up 6.9 percent to 10.4 million TEUs, and imports rose 2.6 percent to 14.3 million TEUs year-over-year, yet overall trade was off 0.8 percent from the first 10 months of 2008. Imports were down 2 percent compared to the 2008 period, though exports inched up 1 percent.
Six of the top 10 East Coast ports showed 10-month growth in 2011 compared to 2008 in total trade: North Carolina at 52.6 percent; Jacksonville, 16.5 percent; Miami, 8.8 percent; Baltimore, 7.8 percent; Georgia, 6.3 percent; and New York-New Jersey, 3.2 percent.
Contact Marsha E. Salisbury at email@example.com.