Cargoes continue to decrease in U.S.

Although the first month of the second half of the year, July, is usually the peak season, cargoes continued to drop compared to previous months.

Excluding ChoYang Line, Hanjin Shipping, and Hyundai Merchant Marine, cargoes fell 41.9% to 10,412 TEU compared to 17,921 TEU a month ago. The market share by the two leading Korean shipping companies also shrank to 37.09% from 38.36% a month earlier.

In the midst of the fray, however, NYK, ZIM, Kien Heung Line, and CMA enjoyed continuously increasing cargoes both above a year ago and a month ago. Out of the 23 member shipping companies enrolled in the International Shipping Agencies Association of Korea (ISAAK), 14 companies showed themselves to be on the upswing, while others are in a downward spiral compared with June. Westwood, a U.S Shipping company, marked the highest increase, 65% over June, with NYK, a Japanese firm, marking 28% growth and YangMing Line 26%. OOCL and Evergreen also posted a 25% and 24% increase, respectively.

Market share statistics in U.S. trade revealed Hanjin to have seized the lion's share with 22.16%. HMM followed with a 14.93% share. Zim Line, an Israeli shipping company, edged out Maersk Sealand for third place with 8.19%. APL also overtook Maersk Sealand with 7.55% for fourth. Maersk Sealand possessed 7.2% of U.S. trade market share.

On a more positive note, PNW and IPI cargoes were on the rise, while all water cargoes also continued to increase. Cargoes entering Canada through all water services and PNW grew as well.