U.S. REEFER TRADE OVERVIEW

Transcription

1 U.S. REEFER TRADE OVERVIEW Mario O. Moreno Economist, JOC Long Beach March 5, 2013

2 U.S. Reefer Trade In Metric Tons Export Imports DOWN YEAR FOR U.S. REEFER TRADE Reefer exports declined 2.2% in 2012, totaling 15.1 million metric tons Reefer imports declined 3.5% totaling 16.6 million metric tons In TEUs, exports stood unchanged while imports saw a boost of 1.5% SLIDE 2 2

3 EXPORTS: Where is the Growth? Northeast Asia is largest market with 8.5 million MT., or 56% share Top Regional Markets in 2012 Northeast Asia grew fastest with 264K MT. gain, or 3% Fastest Growing Regional Markets in 2012 Caribbe an 5% Central Am 6% SE Asia 7% Others 16% NE Asia 56% Changes in Thousands of Metric Tons NE Asia 3% WC South Am 29% I S C N Europe 10% Africa SLIDE 3

4 EXPORTS: Where is the Growth? (Cont d) Japan is largest market with 5.1 million MT., or 34% share Japan grew the fastest with 321K MT. gain, or 7% Top Markets in 2012 Fastest Growing Markets in 2012 Changes in Thousands of Metric Tons Others 44% Japan 34% Japan China Thailand 19% 7% Taiwan 4% China 8% Kor Hong Rep Kong 5% 5% Taiwan Chile Georgia SLIDE 4

5 What Exports are Growing the Fastest? Vegetables is largest export with 5.4 million MT. or 36% share Top Cool Exports in 2012 Vegetables grew fastest with a gain of 230K MT. or 4% Fastest Growing Commodities, 2012 Fish, frozen 5% Fruits, misc 6% Others 19% Meat 15% Poultry 19% Vegetabl es 36% Changes in Thousands of metric tons Vegetables Molasses 94% Sardines Milk, eggs, prods Shellfish Meat 4% SLIDE 5 5

6 U.S. Containerized Exports of Meat Index Jan 2004=100 SOURCE: PIERS. HS code 02. Index developed by JOC economist Mario Moreno MEAT EXPORTS ON THE UPTREND U.S. meat exports rose 2.6% in 2012, following a jump of 21.7% in prior year Exports more than doubled from 2004 to 2011 Between 2007 to 2012, exports grew at CAGR of 10% Index is up by 140% from 2004 base SLIDE 6 6

7 U.S. Reefer Exports Forecast 40.8 MODEST OUTLOOK FOR U.S. REEFER EXPORTS 30.0 Annual Growth Rate f SLIDE 7 7

8 IMPORTS: Where is the Growth? Central America is largest supplier of reefer goods to U.S. with 6.5 million MT. Top Source Regions in 2012 Oceania grew fastest with a gain of 197K MT., or 22% Fastest Growing Source Regions in 2012 Oceania 7% Others 20% Central Am 39% Oceania N Europe Changes in Thousands of Metric Tons % 22% SE Asia 7% NE Asia 7% WC South Am 20% Africa Med ISC Mid East SLIDE 8

9 IMPORTS: Where is the Growth? (Cont d) Guatemala is largest supplier of reefer goods to U.S. with 2.3 million MT. Reefer imports (by volume) from El Salvador doubled in 2012 Top Source Countries in 2012 Chile 12% Others 18% Hondura 12% Ecuador 12% Guateml 25% C Rica 21% El Salv Australia Rep SAF Vietnam Honduras Thailand Fastest Growing Source Countries in 2012 Changes in Thousands of Metric Tons % 102% SLIDE 9

10 What Imports are Growing the Fastest? Banana is largest import with 4.8 million MT. or 29% share Top Cool Imports in 2012 Demand for vegetables grew fastest, up 137K MT. or 8% Fastest Growing Commodities in 2012 Changes in Thousands of metric tons Others 30% Bananas 29% Vegetables Molasses 8% 22% Oranges Pineapp les, no canned Vegetabl 6% es 11% Sugar 12% Fruits, misc 12% Meat, chiefly fresh Pineapples, no Frozen fish SLIDE 10 10

11 U.S. Reefer Imports Forecast REEFER IMPORTS EXPECTED TO RECOVER IN Annual Growth Rate f SLIDE 11 11

12 WHO WILL BENEFIT FROM MODEST OUTLOOK? SLIDE 12

13 Fastest Growing U.S. Ports CAGR Wilmington NC 33.4% S Louisiana 10.9% Oakland 10.5% Philadelphia 6.8% Norfolk 6.7% Los Angeles 6.6% SLIDE 13

14 Fastest Growing Ocean Carriers CAGR K Line 24.8% Mediterranean 24.1% CMA CGM 23.8% MOL 22.6% CSC Sugar 17.5% ZIM Container 11.0% SLIDE 14

15 THANK Mario O. Moreno Economist, JOC Long Beach March 5, 2013