- NVOCC-Arranged Import Market Remains Uncertain Even As It Outpaces Overall U.S. Inbound Ocean Liner Market, Says PIERS Report
NEWARK, New Jersey, May 15, 2012 /PRNewswire/ -- Imports of shipped cargo will continue to show modest growth in 2012 while the outlook for cargo shipments arranged by Non-Vessel Operating Common Carriers (NVOCCs) remains uncertain, according to the "PIERS NVOCC Market Report – Import Market Dynamics 2011 vs. 2010." The report, however, notes that NVOCC-arranged imports showed higher growth than the overall U.S. inbound ocean liner market.
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NVOCC-arranged import volume grew 2.8 percent in 2011, while traditional carrier cargo volume grew by 2.2 percent, the report adds. Likewise, NVOCC-associated cargo value in 2011 increased by 1.9 percent compared to an overall containerized import cargo value increase of 1.7 percent. In relative terms, NVOCC market share showed the largest gains in the Oceania trade (+18.1%), West Coast South America (+15.5%) and Central America (11.9%) and NVOCC cargo value market share increased in seven of the fourteen trade regions.
The report further shows that while NVOCC growth is positive, the industry has slowed considerably from its performance between 2006-2010. It adds that the remainder of 2012 is not expected to show markedly better performance for the NVOCC industry as global growth is forecasted to range from between 2.5 percent and 4.2 percent with ocean cargoes suffering another year of only marginal growth. The report emphasizes, however, that the performance of the NVOCC industry in the coming years will hinge on whether shippers will prefer to work more with NVOCC and other third-party logistics providers during down times than during periods of higher growth.
"In general, the report shows NVOCCs faced a thinner market in 2011 than in 2010, and global growth forecasts show 2012 will not be much different," said PIERS Executive Vice President, Gavin Carter. "Because PIERS has been documenting the NVOCC involvement in the market since 2002, we can offer detailed business intelligence to the container shipping industry with highly targeted insights on NVOCC participation."
The report enables users to track import growth of NVOCCs in the U.S. and around the world. It includes both aggregate NVOCC industry and individual NVOCC company market share by major trade region, volume, value of trade and carrier (VOCC) association. These assessments offer a view of performance over time so the U.S. can compare NVOCC performance with overall market growth. The report is available for a complimentary download or by visiting www.piers.com/NVOCCMarketReport.
The PIERS NVOCC Market Report series is intended to be a catalyst that will spark dialogue and build a greater sense of community within the waterborne transportation industry. Visit www.piers.com/transportation for more information, or join us on Facebook, LinkedIn, Twitter and Data in Motion blog to discuss these findings. PIERS will also partner with its sister company, The Journal of Commerce, to provide further analysis on the findings in this week's magazine issue and future webcasts and podcasts.
About PIERS
PIERS is the most comprehensive database of U.S. waterborne trade activity in the world providing information services to thousands of subscribers globally. Launched more than 35 years ago, PIERS was the first venture in digital global trade intelligence and quickly became the industry standard for accuracy, reliability and insight. Our unique infrastructure and proprietary technology allow us to not only publish import data, but also complete coverage of U.S. export transactional data. PIERS is a division of UBM Global Trade, and a sister company of The Journal of Commerce. For more information, visit www.PIERS.com, or call 1-800-952-3839.
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