USEC tops all, as transpac carriers post 63pc revenue leap in Q3

TRANSPACIFIC ocean carriers experienced a 63 per cent year-on-year increase in revenue, up more than US$4 billion in the third quarter, reports Box Trade Intelligence (BTI), also noting that services to the US east coast were the most profitable.

This combined with a fall in operating costs, resulting in carrier yields rising from $164,524 during Q3 last year to $3.1 million this year, reported London's International Freighting Weekly.

Headhaul third quarter vessel utilisation increased from 76 per cent in 2009 to 83 per cent in 2010, and average eastbound rates increased from US$1,479 per TEU to $1,900.

"North American east coast services are the most profitable for carriers, generating yields of more than $1,200 per TEU and, notably, cargo from southeast Asia delivering over $1,500 per TEU, said BTI director Doug Bannister.

"Volumes on the trade are up by 20 per cent in both directions, with central China exports up by over 40 per cent. From south China, we see increases to the US west coast of 17 per cent, and to the Canadian west coast by 32 per cent," he said.

Mr Bannister also said that large growth rates occurred in furniture, up 67,000 TEU to 260,000 TEU, and telecoms and recording equipment, up 53,000 TEU to more than 300,000 TEU.

Westbound backhaul volumes were up too, from the North American west coast ports into China, but volumes into South Korea declined. Increases were posted in animal feeds, cork and wood and textiles from North America to Asia, said the report.

North America-Africa trades nearly doubled volumes in the third quarter year on year, to more than $100 million. North America-Australia/NZ and North America-Latin America trade value was up $100 million.
(Source:www.schednet.com)