Slight increase in outbound cargoes for North America in May

Container cargoes bound for North America showed only a slight increase in May, peak season rate hikes remaining low for North American bound container cargoes.

ISAAK (the International Shipping Agencies Association of Korea) released transportation results for May, showing whole amounts in May recorded 42,908 TEU, a slight rise over April's 42,553 TEU. Therefore, as May, a month stepping into peak season, showed no progress from April, it is widely assumed that the revitalization of the North American market is still obscure.

By liner, Hanjin Shipping carried 10,013 TEU, or 23.349% of all cargoes, and Hyundai Merchant Marine (HMM) transported 7,387 TEU, or 17.22%. Choyang Line, removed its vessels from this trade. The withdrawal of Choyang shrank Korean shipping lines' share in the trade.

Maersk-Sealand topped the foreign carriers with 3,677 TEU, or 8.55%. APL and Zim Lines handled 3,502 TEU or 8.16 percent, and 3,315 TEU or 7.73 percent, respectively.

Regionally, local cargos and cargoes moving into inland to the PSW (Pacific South West) declined, while cargoes bound for the PNW (Pacific North West) rose. All water cargoes continued to grow rapidly.