PIERS NVOCC MARKET REPORT-IMPORTS ONLY · PIERS NVOCC MARKET REPORT - IMPORTS ONLY IMPORT DYNAMICS:...

PIERS NVOCC MARKET REPORT-IMPORTS ONLY Import market DynamIcs: 1H-2011 vs. 1H-2010

volume 2

Published September 2011

© PIERS 2011

PIERS NVOCC MARKET REPORT - IMPORTS ONLY IMPORT DYNAMICS: 1H-2011 VS. 1H-2010 VOLUME 2

IntroDuctIon

This report is the second in an ongoing series published by PIERS detailing the performance of Non-Vessel Operating Common Carriers (NVOCCs) in the U.S. ocean liner trade markets. NVOCCs are third-party intermediaries within the international freight transportation sector established primarily to serve the less-than-container (LCL) load market.

Like freight forwarding companies, NVOCCs are licensed by the US Federal Maritime Commission to act as Ocean Transportation Inter-mediaries (OTI). Unlike the agent-principal relationship that freight forwarders establish with their customers, NVOCCs act as ocean freight carriers, issue their own transportation documentation such as bills of lading and are legally responsible for physical loss or damage to cargoes. NVOCCs purchase space aboard vessels from VOCCs that is subsequently resold to shippers.

PIERS’ NVOCC import market analysis provides carriers (VOCCs), NVOCCs, importers and exporters a macro-assessment of the per-formance of NVOCCs in US ocean liner shipping markets. This report includes both aggregate NVOCC industry and individual NVOCC company market shares by major trade region, volume, value of trade and VOCC association. These assessments offer a view of performance over time so the user can compare NVOCC performance with overall market growth.

The report enables users to track NVOCC import growth in the US ocean liner trades and around the world. PIERS also addresses the question of NVOCC impact on quality of service including schedule, inland service, cargo consolidation and documentation.

This report analyzes the level and growth of NVOCCs in the US inbound liner shipping trades during the first half of 2011 compared to the first half of 2010. We offer a snapshot comparison of NVOCC performance in these two time periods in terms of overall trade as well as by region and carrier. At the report’s conclusion, we begin to look into the relationship between VOCC market share and the extent of NVOCC participation. We explore this relationship using all top 50 carriers in the market, then split the sample according to the median volume in order to determine if the relationship differs by carrier size. This is only one of many types of critical analyses that can be gener-ated using PIERS NVOCC data.

pIers nvocc market report - Imports only | Import market DynamIcs: 1H-2011 vs. 1H-2010 volume 2

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pIers: unique and seasoned expertise in the nvocc market

PIERS has been documenting and tracking NVOCC participation in this market since 2002 and has witnessed firsthand its explosive growth. PIERS dynamic NVOCC data offers industry analysts and marketing profession¬als highly targeted insight into NVOCC market performance and must-have intelligence to help determine the underly-ing factors of its growth as well as its impact on your business. To learn more, visit the NVOCC landing page at www.PIERS.com/NVOCC.

PIERS provides the most comprehensive portfolio of data intelligence resources for U.S. waterborne trade activity in the world. Our dynamic business intelligence tools and research solutions are powered by a unique infrastructure and proprietary technology that not only differentiates the high quality of PIERS import data, but also distin-guishes PIERS as the only provider to deliver complete coverage of U.S. export transactional data.

For 35 years, thousands of subscribers globally have relied on PIERS as the standard in customized trade intelligence. We are a single-source resource for access to multiple import and export databases in a single interface including data from the U.S. Census, U.S. Customs, the United Nations and Dun & Bradstreet as well as shipping manifests and 15 million bills of lading collected annually.

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. We invite you to join in the discussion on our PIERS Facebook page and LinkedIn Discussion page. We are also partnering with our sister company, The Journal of Commerce to bring you further in depth analysis on our report findings which will be featured in an upcoming JOC publication as well as future webcasts and podcasts.

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taBle oF contents

Introduction ...................................................................................................................................i

Growth First Half 2011 Compared to First Half 2010 – Volume....................................................3

Growth First Half 2011 Compared to First Half 2010 – Value .......................................................4

Total Import Trade and Regional Distribution – Volume................................................................5

Total Import Trade and Regional Distribution – Value ...................................................................8

Total Import Trade and Regional Distribution – Cargo Growth ...................................................11

nvocc market sHare

transpacIFIc

Northeast Asia ..............................................................................................................13

Southeast Asia ..............................................................................................................14

Indian Subcontinent ......................................................................................................15

Oceania .........................................................................................................................16

transatlantIc

North Euope .................................................................................................................17

Mediterranean ..............................................................................................................18

Northern Mediterranean/Middle East ...........................................................................19

Africa ............................................................................................................................20

Western HemIspHere

Caribbean .....................................................................................................................21

Central America ............................................................................................................22

East Coast South America .............................................................................................23

West Coast South America ...........................................................................................24

Canada ..........................................................................................................................25

Others ...........................................................................................................................26

Carrier Use of NVOCCS ..............................................................................................................27

Conclusion ..................................................................................................................................32


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FIGures anD taBles

FIGure 1: Total NVOCC and Traditional Carrier Cargo Volume 1H-2011

Compared to 1H-2010 .................................................................................................3

FIGure 2: Total NVOCC and Traditional Carrier Cargo Value 1H-2011

Compared to 1H-2010 .................................................................................................4

FIGure 3: NVOCC Market Share US Containerized Import Volume 1H-2011

Compared to 1H-2010 .................................................................................................5

taBle 1: Regional Distribution NVOCC Import Volume 1H-2011 Compared to 1H-2010 ............6

FIGure 4: NVOCC Volume of Import Trade Market Shares by Region

1H-2011 Compared to 1H-2010 ..................................................................................7

FIGure 5: NVOCC Market Share US Containerized Import Value

1H-2011 Compared to 1H-2010 ..................................................................................8

taBle 2: Regional Distribution NVOCC Import Value 1H-2011 Compared to 1H-2010 ...............9

FIGure 6: NVOCC Value of Import Trade Market Shares by Region

1H-2011 Compared to 1H-2010 ................................................................................10

taBle 3: NVOCC Volume Regional Growth Rates ......................................................................11

taBle 4: NVOCC Value Regional Growth Rates .........................................................................12

nvoccs market sHare:

taBle 5: Northeast Asia – US Market ............................................................................13

taBle 6: Southeast Asia – US Market ............................................................................14

taBle 7: Indian Subcontinent – US Market ....................................................................15

taBle 8: Oceania – US Market ......................................................................................16

taBle 9: North Europe – US Market..............................................................................17

taBle 10: Mediterranean – US Market ..........................................................................18

taBle 11: Northern Mediterranean/Middle East – US Market ......................................19

taBle 12: Africa – US Market ........................................................................................20

taBle 13: Caribbean – US Market .................................................................................21

taBle 14: Central America – US Market. .......................................................................22

taBle 15: East Coast South America – US Market ........................................................23

taBle 16: West Coast South America – US Market .......................................................24

taBle 17: Canada – US Market .....................................................................................25

taBle 18: “Other” – US Market ....................................................................................26

taBle 19: NVOCCs by Carrier – All US Trade Lanes 1H-2011 Compared to 1H-2010 ...............27

FIGure 7: Scatter Plot of Carrier Volume and NVOCC Usage – All Top 50 Carriers ..................29

FIGure 8: Scatter Plot of Carrier Volume and NVOCC Usage –

Carriers with Greater Than Median Volume ..............................................................30

FIGure 9: Scatter Plot of Carrier Volume and NVOCC Usage –

Carriers with Less Than Median Volume ....................................................................31

Figure 1. Total NVOCC and Traditional Carrier Cargo Volume H1-2011 compared to H1-2010

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

10,000,000

0Carriers NVO Total Imports

H1-2010

H1-2011

+4.2%

+5.6%

+4.7%

TEU

S

Figure 2. Total NVOCC and Traditional Carrier Cargo Value H1-2011 compared to H1-2010

Carriers NVO Total Imports

2010 H1

2011 H1

+0.5%

+4.2%

+1.8%

US$

’s

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

0

Billions

Figure 3. NVOCC Market Share US Containerized Import VolumeH1-2011 Compared to H1-2010

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

0.0%

32.6% 32.9%

H1-2010 H1-2011


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GroWtH FIrst HalF 2011 compareD to FIrst HalF 2010

Volume

During 1H-2011 the growth of NVOCC-arranged import volume outpaced that of total import growth by 0.9 percentage points. Traditional carrier-arranged volumes increased by 4.2 percent and NVOCC volume by 5.6 percent. The differential supported a mild 0.3 percentage point increase in NVOCC market share to 32.9 percent from 32.6 percent.


1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

10,000,000


H1-2010

H1-2011

+4.2%

+5.6%

+4.7%TE

US



2010 H1

2011 H1

+0.5%

+4.2%

+1.8%

US$

’s

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

0

Billions


5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

0.0%

32.6% 32.9%

H1-2010 H1-2011


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Value

On a value basis, NVOCC cargoes accelerated well past traditional carrier arrangements. The estimated value of cargo moving under traditional carrier arrangements was up just 0.5 percent in 1H-2011 while the value of cargo captured by NVOCCs increased by 4.2 percent. Total containerized cargo value increased by 1.8 percent. As a consequence, the 1H-2011 NVOCC share of containerized cargo value edged up to 34.0 percent from 33.2 percent posted in 1H-2010, an increase in share of 0.8 percentage points. .


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total Import traDe anD reGIonal DIstrIButIon

Volume

Figure 3 shows that NVOCC market-share for total US containerized trade volume inched forward by 0.3 percentage points in 1H-2011 compared to the same period last year.

On a regional basis, compared to 1H-2010, the 1H-2011 results show that eight of the fourteen trade regions defined by PIERS showed positive relative (percentage) increases in NVOCC market share with the majority of the gains accruing to operators handling cargo from East Coast South America (+16.1%) and West Coast South America (17.0%). NVOCCs imports from Northern Europe and the Northern Mediterranean increased 6.9 percent and 5.6 percent more share respectively. NVOCC moving Oceania cargoes added 10.9 percent of share and from Central America NVOCC share rose 4.2 percent. From Northeast Asia, NVOCC share was relatively flat, increasing by just 1.5 percent to an already high 40.2 percent share. Declines in NVOCC share were posted by Africa, Canada, the Caribbean, the Mediterra-nean/Middle East, “Other” regions and Southeast Asia. Of these, only trade from Canada (-16.5%), the Caribbean (-24.1%) and “Others” (-6.6%) posted more than moderate declines.


1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

10,000,000


H1-2010

H1-2011

+4.2%

+5.6%

+4.7%

TEU

S



2010 H1

2011 H1

+0.5%

+4.2%

+1.8%

US$

’s

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

0

Billions


5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

0.0%

32.6% 32.9%

H1-2010 H1-2011


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table 1: Regional Distribution NVOCC Import Volume 1H-2011 Compared to 1H-2010

period aFr can carIB cent amer

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1H-2010 3,024 314 8,485 10,286 30,661 81,092 119,433 2,040,679 1,502 191,965 4,381 7,502 204,208 7,159

1H-2011 3,151 309 6,811 11,927 40,386 85,884 132,094 2,123,925 1,285 232,023 4,488 6,539 205,477 9,349

1H-2010 8.7% 1.6% 5.5% 2.7% 19.6% 25.7% 34.3% 40.2% 9.8% 27.5% 5.1% 15.5% 26.6% 3.4%

1H-2011 8.6% 1.3% 4.1% 2.9% 22.7% 25.9% 33.4% 40.8% 10.4% 29.4% 5.7% 14.5% 26.2% 3.9%

PCT POINT DIFF SHARE

-0.1% -0.3% -1.3% 0.1% 3.1% 0.2% -0.9% 0.6% 0.5% 1.9% 0.6% -1.0% -0.4% 0.6%

PCT DIFF SHARE -1.2% -16.5% -24.1% 4.2% 16.1% 0.6% -2.6% 1.5% 5.6% 6.9% 10.9% -6.6% -1.6% 17.0%

market sHare

volume In teus


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Figure 4 displays the above regional market share statistics graphically.

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

0.0%

Africa

Canad

a

Caribbea

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Centra

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ica

E C SO

Amer

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Indian

Sub-C

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Nmed/M

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No Eur

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Ocean

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Other

s

Med

/Mid E

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NE Asia

SE A

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W C

SO A

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Figure 4. NVOCC Volume of Import Trade Market Shares by RegionH1-2011 Compared to H1-2010

Total

H1-2010 H1-2011

Figure 5. NVOCC Market Share US Containerized Import ValueH1-2011 Compared to H1-2010

33.2%34.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

0.0%

Africa

Canad

a

Caribbea

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Centra

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ica

E C SO

Amer

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Indian

Sub-C

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Nmed/M

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No Eur

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Ocean

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Other

s

Med

/Mid E

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NE Asia

SE A

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W C

SO A

merica

Figure 6. NVOCC Value of Import Trade Market Shares by Region H1-2011 Compared to H1-2010

Total


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Value

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

0.0%

Africa

Canad

a

Caribbea

n

Centra

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ica

E C SO

Amer

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Indian

Sub-C

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Nmed/M

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No Eur

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Other

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Med

/Mid E

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NE Asia

SE A

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W C

SO A

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Total

H1-2010 H1-2011


33.2%34.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

0.0%

Africa

Canad

a

Caribbea

n

Centra

l Amer

ica

E C SO

Amer

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Indian

Sub-C

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nt

Nmed/M

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No Eur

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Ocean

a

Other

s

Med

/Mid E

ast

NE Asia

SE A

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W C

SO A

merica


Total


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The 1H-2011 results displayed in Figure 5 show that NVOCCs captured 0.8 percentage points more market share in terms of imported trade value than in the same period last year, a relative increase of 2.4 percent and an indication that NVOCC are beginning to chase after more lucrative cargoes.

table 2: Regional Distribution NVOCC Import Value 1H-2011 Compared to 1H-2010


ec so amer

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1H-2010 290.6

23.9

422.7

402.5

2,863.0

4,373.1

6,769.5

80,042.7

152.3

15,834.0

621.2

491.1

8,514.0

332.4

1H-2011 584.0

21.4

316.7

583.9

1,809.6

4,154.1

7,545.4

83,271.6

49.6

18,363.3

520.9

564.5

8,031.6

437.2

1H-2010 12.1% 4.4% 4.6% 4.6% 31.0% 24.8% 39.9% 41.0% 18.9% 32.5% 3.9% 19.0% 26.8% 6.3%

1H-2011 21.4% 3.4% 3.2% 6.7% 24.1% 25.6% 39.0% 42.3% 12.6% 34.7% 3.6% 20.2% 25.0% 7.1%

PCT POINT DIFF

SHARE

9.3% -1.1% -1.4% 2.0% -6.8% 0.8% -1.0% 1.2% -6.2% 2.2% -0.3% 1.2% -1.8% 0.8%

PCT DIFF SHARE

76.4% -24.2% -31.3% 43.7% -22.1% 3.1% -2.4% 3.0% -33.0% 6.9% -8.3% 6.6% -6.7% 12.2%

value In mIllIons

market sHare


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Across the 14 trade regions and on an unweighted basis, the increase was most pronounced in trade from Africa where NVOCCs managed to capture 76.4 percent more share of imported trade value, a leap from a 12.1 percent share to a 21.4 percent share. NVOCCs captured 43.7 percent more share in Central American cargo value and 12.2 percent more share from West Coast South America. From Northeast Asia, the NVOCC share of value rose from 41.0 percent to 42.3 per-cent an increase of 1.2 percentage points or 3.0 percent. However, in seven of the 14 regions, NVOCC share of cargo value fell. Figure 6 below displays the results graphically.

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

0.0%

Africa

Canad

a

Caribbea

n

Centra

l Amer

ica

E C SO

Amer

ica

Indian

Sub-C

ontine

nt

Nmed/M

id Eas

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No Eur

ope

Ocean

a

Other

s

Med

/Mid E

ast

NE Asia

SE A

sia

W C

SO A

merica


Total

H1-2010 H1-2011


33.2%34.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

0.0%

Africa

Canad

a

Caribbea

n

Centra

l Amer

ica

E C SO

Amer

ica

Indian

Sub-C

ontine

nt

Nmed/M

id Eas

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No Eur

ope

Ocean

a

Other

s

Med

/Mid E

ast

NE Asia

SE A

sia

W C

SO A

merica


Total


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Cargo Growth

While in total, NVOCC cargo volume growth outpaced total trade (see Figure 1), the regional breakdown was mixed. Relative to regional growth rates, NVOCCs made large strides in trade from Central America, East Coast South America, Oceania, North Europe and West Coast South America. NVOCC performance fell behind total trade growth in Africa, Canada, the Caribbean, the Mediterra-nean/Middle East, “Other” regions and Southeast Asia. The overall increase in NVOCC volume relative to total trade was largely the result of NVOCC performance in the Northeast Asia market where NVOCC volumes climbed by 4.1 percent compared to a total increase of 2.5 percent.

table 3: NVOCC Volume Regional Growth Rates


ec so amer

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Total Trade

Growth5.5% 18.1% 5.8% 11.3% 13.5% 5.3% 13.6% 2.5% -19.0% 13.0% -7.7% -6.6% 2.3% 11.6%

NVO Shipment Growth

4.2% -1.3% -19.7% 16.0% 31.7% 5.9% 10.6% 4.1% -14.5% 20.9% 2.4% -12.8% 0.6% 30.6%

volume oF traDe GroWtH rate 1H-2011 compareD to HI-2010


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In terms of value of trade, the performance of NVOCCs was also mixed. While outpacing total containerized import value by 2.4 per-centage points, NVOCCs lagged total trade value growth in Canada, the Caribbean, East Coast South America the Mediterranean, the Northern Mediterranean, Oceania and South East Asia. As in the case of volume, NVOCC performance in the Northeast Asian trade was sufficient to propel its growth in value ahead of the growth in total trade value from this region.

table 4: NVOCC Value Regional Growth Rates


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Total Value of Trade Growth

13.9% 17.8% 9.1% 1.0% -18.9% -7.9% 14.2% 1.0% -51.4% 8.5% -8.6% 7.8% 1.1% 17.2%

NVO Value of

Shipment Growth

101.0% -10.7% -25.1% 45.1% -36.8% -5.0% 11.5% 4.0% -67.4% 16.0% -16.1% 14.9% -5.7% 31.5%

volume oF traDe GroWtH rate 1H-2011 compareD to HI-2010


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nvocc market sHares

The following tables display TEU volume and market share statistics for 1H-2011 and 1H-2010 by trade region. Volume statistics are displayed for NVOCC cargo only.

Transpacific

table 5: NVOCCs Market Share: Northeast Asia – US Market

nvocc 1H-2010 volume

1H-2011 volume

1H-2010 sHare

1H-2011 sHare

EXPEDITORS INTERNATIONAL OF WASHINGTON

145,257 143,011 7.1% 6.7%

ORIENT EXPRESS CONTAINER CO INC

91,665 88,971 4.5% 4.2%

PHOENIX INTERNATIONAL FREIGHT SERVICE LTD

63,269 80,538 3.1% 3.8%

bLUE ANCHOR LINE 72,436 77,887 3.5% 3.7%

APEX SHIPPING CO 65,204 60,324 3.2% 2.8%

TOPOCEAN CONSOLIDATION SERVICE INC

50,301 56,068 2.5% 2.6%

DE WELL CONTAINER SHIPPING CORP

58,644 50,367 2.9% 2.4%

HECNY SHIPPING LTD 38,704 49,315 1.9% 2.3%

DANMAR LINES 44,004 49,230 2.2% 2.3%

HONOUR LANE SHIPPING LTD 46,229 48,492 2.3% 2.3%

SEAMASTER LOGISTICS INC 39,238 45,771 1.9% 2.2%

UPS SCS (ASIA) LTD 42,193 43,528 2.1% 2.0%

CHINA CONTAINER LINE USA INC

38,426 40,402 1.9% 1.9%

SCHENKEROCEAN (HONG KONG)

43,165 37,947 2.1% 1.8%

WORLDWIDE OCEAN LINE 25,648 33,754 1.3% 1.6%

CHRISTAL LINES 26,985 33,098 1.3% 1.6%

CHINA INTERNATIONAL FREIGHT CO LTD

32,919 32,268 1.6% 1.5%

SUMMIT LOGISTICS INTERNATIONAL

30,396 25,361 1.5% 1.2%

FEDEX TRADE NETWORKS TRANSPORT & bROKERAGE

INC

4

25,136 0.0% 1.2%

TRANSLINK SHIPPING 21,545 25,073 1.1% 1.2%

TOP 20 TOTAL 976,233 1,046,543 47.8% 49.3%

REGIONAL TOTAL 2,040,679 2,123,925 100.0% 100.0%

northeast asia


14

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CIF

IC

table 6: NVOCCs Market Share: Southeast Asia – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare

APEX SHIPPING CO 23,978 22,815 11.7% 11.1%


20,103 20,151 9.8% 9.8%

SEAMASTER LOGISTICS INC 6,545 12,152 3.2% 5.9%

ORIENT EXPRESS CONTAINER CO INC

12,273 11,131 6.0% 5.4%


7,418 7,146 3.6% 3.5%

TOPOCEAN CONSOLIDATION SERVICE INC

7,003 7,100 3.4% 3.5%

HONOUR LANE SHIPPING LTD 4,158 5,699 2.0% 2.8%

VILDEN GLObAL TRADE SOLUTIONS SDN bHD

3,582 4,753 1.8% 2.3%

bLUE ANCHOR LINE 4,560 4,668 2.2% 2.3%

HECNY SHIPPING LTD 2,883 4,598 1.4% 2.2%


4,306 4,590 2.1% 2.2%

UPS SCS (ASIA) LTD 3,014 3,548 1.5% 1.7%

DANMAR LINES 4,398 3,537 2.2% 1.7%

CHRISTAL LINES 3,630 3,479 1.8% 1.7%

GLObE EXPRESS 2,157 3,303 1.1% 1.6%

TRANSLINK SHIPPING 1,965 2,693 1.0% 1.3%

GLObAL LINK LOGISTICS 3,083 2,685 1.5% 1.3%

ORIENT STAR TRANSPORT INTL INC

2,327 2,562 1.1% 1.2%

UTI UNITED STATES INC 2,963 2,419 1.5% 1.2%

G LINK EXPRESS PTD LTD 2,349 2,416 1.2% 1.2%

TOP 20 TOTAL 122,696 131,445 60.1% 64.0%

REGIONAL TOTAL 204,208 205,477 100.0% 100.0%

southeast asia


15

NV

OC

C M

AR

KE

T SH

AR

ES:

TR

AN

SPA

CIF

IC

table 7: NVOCCs Market Share: Indian Subcontinent – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare


10,319 13,591 12.7% 15.8%


SWIFT GLObAL LINE 3,939 3,819 4.9% 4.4%

DAMCO A/S 3,183 2,894 3.9% 3.4%

SAFEWATER LINES (INDIA) PRIVATE LTD

2,126 2,786 2.6% 3.2%

TRANSAMERICA LOGISTIC INC 3,064 2,629 3.8% 3.1%


2,989 2,523 3.7% 2.9%

PELORUS OCEAN LINE LTD 1,589 2,436 2.0% 2.8%


1,571 2,329 1.9% 2.7%

DANMAR LINES 3,074 2,062 3.8% 2.4%

AIRLIFT (USA) INC 1,963 1,997 2.4% 2.3%

bALAJI SHIPPING UK LTD 1,774 1,841 2.2% 2.1%

SEAQUEST LINE 1,947 1,809 2.4% 2.1%

bLUE ANCHOR LINE 1,472 1,607 1.8% 1.9%

CHRISTAL LINES 569 1,517 0.7% 1.8%


FALCON EXPRESS LINES INC 924 1,307 1.1% 1.5%

UNITED CARGO MANAGEMENT INC

1,202 1,239 1.5% 1.4%

LCL LINES 1,194 1,202 1.5% 1.4%

CALI AMERICA INC 1,163 1,195 1.4% 1.4%

TOP 20 TOTAL 55,166 59,429 68.0% 69.2%

REGIONAL TOTAL 81,092 85,884 100.0% 100.0%

southeast asia


16

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CIF

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table 8: NVOCCs Market Share: Oceania – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare

bLUE ANCHOR LINE 899 1,188 20.5% 26.5%

PANTAINER EXPRES LINE PANALPINA INC

207 473 4.7% 10.5%

UTI UNITED STATES INC 471 380 10.8% 8.5%

DANMAR LINES 353 340 8.1% 7.6%

bLUE EAGLE CONSOLIDATOR 295 0.0% 6.6%


398 283 9.1% 6.3%


118 169 2.7% 3.8%

OCEANbRIDGE SHIPPINT LTD 192 165 4.4% 3.7%

SEAQUEST LINE 109 150 2.5% 3.3%

UPS SCS (ASIA) LTD 73 109 1.7% 2.4%

CEVA OCEAN LINE 134 98 3.0% 2.2%

CAROTRANS INTERNATIONAL 108 89 2.5% 2.0%

NACA LOGISTICS 123 86 2.8% 1.9%

SHIPCO TRANSPORT INC 89 80 2.0% 1.8%

DFDS OCEAN TRANSPORT A/S 109 71 2.5% 1.6%

ICEPAK INC 97 62 2.2% 1.4%

bDP TRANSPORT LLC 18 49 0.4% 1.1%

ECU LINE 74 43 1.7% 1.0%

WEISS-ROHLIG USA LLC 53 41 1.2% 0.9%

TRANS SERVICE LINE TSL 55 40 1.3% 0.9%

TOP 20 TOTAL 3,680 4,209 84.0% 93.8%

REGIONAL TOTAL 4,381 4,488 100.0% 100.0%

oceania


17

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Transatlantic

table 9: NVOCCs Market Share: North Europe – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare

bLUE ANCHOR LINE 53,856 57,214 28.1% 24.7%

DANMAR LINES 19,642 23,354 10.2% 10.1%


16,726 22,675 8.7% 9.8%


12,384 17,289 6.5% 7.5%

DFDS OCEAN TRANSPORT A/S 8,222 11,528 4.3% 5.0%


9,369 10,319 4.9% 4.4%

FR MEYERS SOHN NA DbA FMS LINES

6,859 7,648 3.6% 3.3%

OCEAN WORLD LINES 3,601 4,884 1.9% 2.1%

CEVA OCEAN LINE 2,223 4,089 1.2% 1.8%

UPS EUROPE SA 3,086 3,792 1.6% 1.6%


TRANSWORLD SHIPPING (USA) INC

3,096 3,186 1.6% 1.4%

CHRISTAL LINES 2,182 2,819 1.1% 1.2%

TRANS SERVICE LINE TSL 2,934 2,780 1.5% 1.2%

JAS OCEAN SERVICES INC 2,298 2,719 1.2% 1.2%

PELORUS OCEAN LINE LTD 1,527 2,618 0.8% 1.1%

PROCON EXPRESS LINES 1,870 2,609 1.0% 1.1%

WEISS-ROHLIG USA LLC 1,069 2,303 0.6% 1.0%

SEAQUEST LINE 1,618 2,169 0.8% 0.9%

CDC CARIbE INC 1,893 2,157 1.0% 0.9%

TOP 20 TOTAL 157,618 189,456 82.1% 81.7%

REGIONAL TOTAL 191,965 232,023 100.0% 100.0%

north europe


18

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AN

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table 10: NVOCCs Market Share: Mediterranean – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare

INTERGLObO NORTH AMERICA INC

9,231 13,061 7.7% 9.9%

SAVINO DEL bENE S P A 12,048 12,646 10.1% 9.6%

bLUE ANCHOR LINE 8,642 9,336 7.2% 7.1%

DANMAR LINES 6,592 7,754 5.5% 5.9%


5,393 6,116 4.5% 4.6%

MTS LOGISTICS INC 5,251 5,448 4.4% 4.1%

DEL CORONA SCARDIGLI 3,048 5,359 2.6% 4.1%

JAS OCEAN SERVICES INC 4,342 4,325 3.6% 3.3%

CDC CARIbE INC 3,482 3,885 2.9% 2.9%

LEONARDI & C SPA 3,184 3,575 2.7% 2.7%

ALbATRANS SPA 3,004 3,484 2.5% 2.6%


3,639 3,343 3.0% 2.5%

DFDS OCEAN TRANSPORT A/S 3,380 3,295 2.8% 2.5%

SAIMA AVANDERO SPA 2,272 3,039 1.9% 2.3%

GENERAL NOLI SPEDIZIONI INTERNAZIONALI SPA

3,267 2,803 2.7% 2.1%

ALbINI & PITIGLIANI SPA 2,057 2,637 1.7% 2.0%


1,325 1,815 1.1% 1.4%

CHRISTAL LINES 1,485 1,812 1.2% 1.4%


ATA FREIGHT LINE USA 2,325 1,756 1.9% 1.3%

TOP 20 TOTAL 85,358 97,295 71.5% 73.7%

REGIONAL TOTAL 119,433 132,094 100.0% 100.0%

mediterranean / middle east


19

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table 11: NVOCCs Market Share: Northern Mediterranean/ Middle East – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare

bLUE ANCHOR LINE 578 525 38.5% 40.9%


LOGFRET INC 4 50 0.2% 3.9%


UPS EUROPE SA 33 44 2.2% 3.4%

MULTIMODAL 66 42 4.4% 3.3%

DANMAR LINES 210 40 14.0% 3.1%

AMC USA INC 49 34 3.3% 2.6%


FEDEX TRADE NETWORKS TRANSPORT & bROKERAGE INC

23 0.0% 1.8%

WORLDWIDE OCEAN LINE 2 22 0.1% 1.7%


104 16 6.9% 1.2%

SEAFRIGO USA INC 3 14 0.2% 1.1%


12 13 0.8% 1.0%


CHRISTAL LINES 18 9 1.2% 0.7%

bALGUERIE DbA ALFRED bAL-GUERIE S A TRANSO

13 8 0.8% 0.6%

WEISS-ROHLIG USA LLC 3 8 0.2% 0.6%


2 6 0.1% 0.5%

UTI UNITED STATES INC 2 0.0% 0.2%

TOP 20 TOTAL 1,443 1,281 96.0% 99.7%

REGIONAL TOTAL 1,502 1,285 100.0% 100.0%

northern mediterranean / middle east


20

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table 12: NVOCCs Market Share: Africa – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare


777 945 25.7% 30.0%


bLUE ANCHOR LINE 869 545 28.7% 17.3%


110 299 3.6% 9.5%

JAGUAR FREIGHT SERVICES 33 68 1.1% 2.2%

DAMCO A/S 56 61 1.9% 1.9%


128 57 4.2% 1.8%

GLObE EXPRESS 14 48 0.5% 1.5%

UPS EUROPE SA 51 45 1.7% 1.4%

JAS OCEAN SERVICES INC 3 43 0.1% 1.4%


DANMAR LINES 89 41 2.9% 1.3%



SSL LINE LTD 41 36 1.4% 1.1%

ALbINI & PITIGLIANI SPA 6 35 0.2% 1.1%

PELORUS OCEAN LINE LTD 28 25 0.9% 0.8%

OCEANIC CONTAINER LINE 22 0.0% 0.7%

PEGASUS MARITIME INC 20 0.0% 0.6%

ROUND-THE-WORLD LOGISTICS (USA) CORP

13 0.0% 0.4%

TOP 20 TOTAL 2,833 3,077 93.7% 97.6%

REGIONAL TOTAL 3,024 3,151 100.0% 100.0%

africa


21

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E

Western Hemisphere

table 13: NVOCCs Market Share: Caribbean – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare

WORLDWIDE OCEAN LINE 31 782 0.4% 11.5%

UPS OCEAN FREIGHT SERVICES INC

1,372 674 16.2% 9.9%

bLUE ANCHOR LINE 1,377 666 16.2% 9.8%

CEVA OCEAN LINE 872 476 10.3% 7.0%

DYNAMIC NETWORK CONTAINER LINE LTD

694 469 8.2% 6.9%

DAMCO A/S 7 386 0.1% 5.7%

bLUE EAGLE CONSOLIDATOR 19 375 0.2% 5.5%

C & F WORLDWIDE AGENCY CORP

22 263 0.3% 3.9%


334 238 3.9% 3.5%

DE WELL CONTAINER SHIPPING CORP

45 232 0.5% 3.4%


88 203 1.0% 3.0%

DANMAR LINES 49 149 0.6% 2.2%

GLObE EXPRESS 206 142 2.4% 2.1%

CARIbE FREIGHT FORWARDING OF PUERTO RICO INC

64 137 0.8% 2.0%

DORAL FREIGHT LOGISTICS INC 87 122 1.0% 1.8%

ORIENTAL AIR TRANSPORT SERVICE INC

634 101 7.5% 1.5%

UNIVERSAL SHIPPING INC 137 96 1.6% 1.4%

SOUTH AMERICAN INDEPENDENT LINE

107 93 1.3% 1.4%

DFF INC 137 83 1.6% 1.2%

SOVEREIGN CONTAINER LINE INC

92 82 1.1% 1.2%

TOP 20 TOTAL 6,374 5,770 75.1% 84.7%

REGIONAL TOTAL 8,485 6,811 100.0% 100.0%

caribbean


22

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table 14: NVOCCs Market Share: Central America – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare

bLUE ANCHOR LINE 2,266 2,174 22.0% 18.2%

DANMAR LINES 1,544 1,787 15.0% 15.0%


294 706 2.9% 5.9%


102 701 1.0% 5.9%


498 667 4.8% 5.6%


688 617 6.7% 5.2%

MCLEAN CARGO SPECIALISTS 588 0.0% 4.9%

CROWLEY LOGISTICS INC 537 559 5.2% 4.7%


913 411 8.9% 3.4%

DFF INC 295 382 2.9% 3.2%

CEVA OCEAN LINE 294 318 2.9% 2.7%


211 244 2.0% 2.0%

DAMCO A/S 196 195 1.9% 1.6%


LAURITZENCOOL LOGISTICS Ab

72 193 0.7% 1.6%


SSI OCEAN SERVICES INC 45 162 0.4% 1.4%

SOUTH AMERICAN INDEPENDENT LINE

87 142 0.8% 1.2%

bRILLIANT GLObE LOGISTICS INC

123 133 1.2% 1.1%

ECONOCARIbE CONSOLIDATORS INC

168 90 1.6% 0.8%

TOP 20 TOTAL 8,420 10,429 81.9% 87.4%

REGIONAL TOTAL 10,286 11,927 100.0% 100.0%

central america


23

table 15: NVOCCs Market Share: East Coast South America – US Market

NV

OC

C M

AR

KE

T SH

AR

ES:

WE

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RN

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MIS

PH

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E


1H-2011 volume

1H-2010 sHare

1H-2011 sHare


3,027 3,609 9.9% 8.9%

UTI UNITED STATES INC 896 3,599 2.9% 8.9%


2,882 3,512 9.4% 8.7%

DANMAR LINES 2,962 3,180 9.7% 7.9%

SAVINO DEL bENE DO bRASIL 2,479 2,867 8.1% 7.1%

CEVA OCEAN LINE 2,627 2,487 8.6% 6.2%

bLUE ANCHOR LINE 1,906 2,435 6.2% 6.0%

CHRISTAL LINES 749 2,406 2.4% 6.0%

JAS OCEAN SERVICES INC 644 1,516 2.1% 3.8%


1,095 1,389 3.6% 3.4%

PELORUS OCEAN LINE LTD 985 1,002 3.2% 2.5%

APRILE USA INC 870 0.0% 2.2%

ATLAS LINE 850 809 2.8% 2.0%

ECU LINE 213 675 0.7% 1.7%

CAROTRANS INTERNATIONAL 1,106 638 3.6% 1.6%

DEL CORONA SCARDIGLI 626 0.0% 1.5%


505 587 1.6% 1.5%

MALLORY TRANSPORTATION 22 553 0.1% 1.4%

ALL WORLD SHIPPING CORPORATION

639 545 2.1% 1.3%

bLUE CARGO SHPG LLC 528 0.0% 1.3%

TOP 20 TOTAL 23,589 33,834 76.9% 83.8%

REGIONAL TOTAL 30,661 40,386 100.0% 100.0%

east coast south america


24

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table 16: NVOCCs Market Share: West Coast South America – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare

LAURITZENCOOL LOGISTICS Ab

1,358 1,288 14.7% 13.8%

DAMCO A/S 580 1,203 6.3% 12.9%

bLUE ANCHOR LINE 413 702 4.5% 7.5%

DANMAR LINES 324 653 3.5% 7.0%


856 624 9.2% 6.7%


83 533 0.9% 5.7%



466 370 5.0% 4.0%


JAS OCEAN SERVICES INC 203 313 2.2% 3.3%


284 282 3.1% 3.0%


203 229 2.2% 2.4%


62 227 0.7% 2.4%


APRILE USA INC 150 0.0% 1.6%

CEVA OCEAN LINE 100 137 1.1% 1.5%

ALbATRANS SPA 128 0.0% 1.4%


ECU LINE 109 97 1.2% 1.0%

SAVINO DEL bENE DO bRASIL 44 92 0.5% 1.0%

TOP 20 TOTAL 5,776 8,054 80.7% 86.1%

REGIONAL TOTAL 7,159 9,349 100.0% 100.0%

West coast south america


25

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table 17: NVOCCs Market Share: Canada – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare

CTC LOGISTICS (L A) INC 40 145 12.8% 46.9%

CARIbbEAN EXPRESS LINE 22 49 7.1% 15.9%

PEGASUS MARITIME INC 10 20 3.2% 6.5%


23 15 7.3% 4.8%

CN WORLDWIDE 12 0.0% 3.9%

VILDEN GLObAL TRADE SOLUTIONS SDN bHD

5 11 1.6% 3.7%



6 9 2.0% 2.8%


119 6 37.8% 2.0%

A & A INTERNATIONA FREIGHT FORWARDERS

5 0.0% 1.6%


ICEPAK INC 2 4 0.6% 1.3%


31 4 9.8% 1.3%

bA-SHI YUEXIN LOGISTICS DEVELOPMENT CO LTD

2 0.0% 0.7%

SEAQUEST LINE 3 2 0.9% 0.7%

bDP TRANSPORT LLC 2 0.0% 0.6%

CDC CARIbE INC 2 0.0% 0.6%

DANMAR LINES 2 0.0% 0.6%

KAMINO INTERNATIONAL TRANSPORT CO

2 0.0% 0.6%

COMAGE INTL CARGO SERVICES INC

2 1 0.6% 0.3%

TOP 20 TOTAL 283 307 90.1% 99.2%

REGIONAL TOTAL 314 309 100.0% 100.0%

canada


26

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Others

table 18: NVOCCs Market Share: “Other” – US Market


1H-2011 volume

1H-2010 sHare

1H-2011 sHare

FEDEX TRADE NETWORKS TRANSPORT & bROKERAGE

INC

1,584 0.0% 24.2%

DAMCO A/S 1,348 1,393 18.0% 21.3%

INTERDEL LOGISTICS INC 879 1,030 11.7% 15.7%

UPS EUROPE SA 2,152 378 28.7% 5.8%

PELTRANSPORT LTD 827 329 11.0% 5.0%

DANMAR LINES LTD (AGENT) 438 280 5.8% 4.3%




83 142 1.1% 2.2%

PACIFIC ATLANTIC LINE (ISRAEL) LTD

53 104 0.7% 1.6%

NACA LOGISTICS 115 89 1.5% 1.4%

W LOGISTICS LLC 89 87 1.2% 1.3%

TRANSMODAL CORP 166 76 2.2% 1.2%

MTS LOGISTICS INC 227 71 3.0% 1.1%

GLObE EXPRESS 31 65 0.4% 1.0%


SAVINO DEL bENE USA INC 80 53 1.1% 0.8%

SEAMAR FREIGHT INTERNATIONAL INC

59 52 0.8% 0.8%

ALL WORLD SHIPPING CORPORATION

52 48 0.7% 0.7%

SHIPCO TRANSPORT INC 0 32 0.0% 0.5%

TOP 20 TOTAL 7,284 6,415 97.1% 98.1%

REGIONAL TOTAL 7,502 6,539 100.0% 100.0%

others


27

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carrIer use oF nvoccs

The Table below lists the market shares of NVOCCs by the top 50 steamship lines sorted on 1H-2011 volumes.

table 19: NVOCC by Carrier – All US Trade Lanes H1 2011 Compared to H1 2010

carrIer

carrier teus

nvo teus

total teus

nvo share 1H-

2010

carrier teus

nvo teus

total teus

nvo share 1H-

2011

MAERSK LINE 682,069 234,289 916,358 25.6% 641,955 210,108 852,064 24.7%

MEDITERRANEAN SHIPPING COMPANY

348,931 331,620 680,551 48.7% 430,123 394,201 824,324 47.8%

EVERGREEN LINE 395,454 211,863 607,318 34.9% 430,978 198,429 629,407 31.5%

AMERICAN PRESIDENT LINES 532,402 86,015 618,418 13.9% 537,042 85,459 622,502 13.7%

HANJIN SHIPPING COMPANY LTD 334,828 219,421 554,249 39.6% 338,352 185,342 523,694 35.4%

HAPAG LLOYD 305,859 178,662 484,521 36.9% 326,896 172,027 498,923 34.5%

CMA-CGM 267,375 135,658 403,033 33.7% 282,884 149,983 432,868 34.6%

HYUNDAI 250,945 155,433 406,378 38.2% 263,408 115,018 378,426 30.4%

ORIENT OVERSEAS CONTAINER LINE 223,544 121,879 345,423 35.3% 243,975 112,869 356,845 31.6%

CHINA OCEAN SHIPPING 170,726 194,869 365,595 53.3% 207,762 148,426 356,188 41.7%

YANG MING LINE 191,612 136,190 327,801 41.5% 199,561 140,107 339,668 41.2%

N Y K LINE 217,077 125,916 342,992 36.7% 230,169 97,394 327,563 29.7%

K LINE 241,809 92,522 334,331 27.7% 192,295 126,574 318,869 39.7%

CHINA SHIPPING CONTAINER LINE 227,892 142,514 370,406 38.5% 148,399 144,541 292,939 49.3%

MOL 199,614 81,987 281,601 29.1% 200,224 84,445 284,669 29.7%

ZIM CONTAINER 153,548 67,482 221,030 30.5% 119,263 52,662 171,925 30.6%

HAMbURG SUD 94,004 18,189 112,193 16.2% 105,416 20,611 126,027 16.4%

DOLE OCEAN CARGO EXPRESS 111,383 581 111,964 0.5% 112,231 617 112,848 0.5%

CHILEAN LINES 39,618 7,059 46,677 15.1% 58,905 47,253 106,158 44.5%

MATSON NAVIGATION CO INC 25,680 30,295 55,975 54.1% 42,369 63,028 105,397 59.8%

CROWLEY LINER SERVICES 72,429 1,438 73,867 1.9% 86,639 1,621 88,259 1.8%

SEAbOARD MARINE LTD 57,403 1,078 58,481 1.8% 75,912 1,903 77,815 2.4%

1H-2010 1H-2011


28

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carrIer use oF nvoccs

table 19: NVOCC by Carrier – All US Trade Lanes H1 2011 Compared to H1 2010 (continued)

carrIer

carrier teus

nvo teus

total teus

nvo share 1H-

2010

carrier teus

nvo teus

total teus

nvo share 1H-

2011

GREAT WHITE FLEET LTD 61,869 84 61,953 0.1% 69,635 90 69,725 0.1%

PO SHIPPING CO LTD (HAINAN) - - - - 19,075 46,462 65,537 70.9%

NORASIA - - - - 4,094 47,267 51,361 92.0%

HORIZON LINES 20,482 1,045 21,527 4.9% 30,727 18,465 49,192 37.5%

ANL CONTAINER LINE 22,096 12,830 34,926 36.7% 28,832 19,724 48,556 40.6%

ATLANTIC CONTAINER LINE 30,458 10,520 40,978 25.7% 34,978 9,552 44,530 21.4%

UNITED ARAb SHIPPING 16,301 18,938 35,239 53.7% 17,416 24,212 41,629 58.2%

INDEPENDENT CONTAINER LINE (ICL) 26,434 3,114 29,548 10.5% 32,290 3,783 36,073 10.5%

WAN HAI LINES LTD 10,652 13,989 24,642 56.8% 16,099 17,982 34,080 52.8%

PACIFIC INTL LINE (PTE) LTD 3,411 18,870 22,281 84.7% 5,445 28,587 34,031 84.0%

SAFMARINE 17,049 17,804 34,853 51.1% 18,491 13,453 31,944 42.1%

NETWORK SHIPPING LTD 33,931 - 33,931 0.0% 29,439 - 29,439 0.0%

T S LINES - - - - 1,849 25,205 27,054 93.2%

EMPRESA DE NAVEGACAO ALIANCA S A

13,546 3,545 17,091 20.7% 16,808 9,954 26,762 37.2%

TROPICAL SHIPPING 18,446 287 18,733 1.5% 23,313 118 23,431 0.5%

SEA STAR LINE LLC 20,754 - 20,754 0.0% 22,913 - 22,913 0.0%

TCC (THE CONTAINERSHIP CO) 2,975 15,011 17,987 83.5% 5,924 14,726 20,650 71.3%

GRAND CHINA SHIPPING (YANTAI) CO LTD

- - - - 1,125 16,844 17,970 93.7%

COMPANIA CHILENA DE NAVEGACION INTE

11,583 503 12,086 4.2% 16,094 1,491 17,584 8.5%

WESTWOOD SHIPPING 13,462 3,829 17,291 22.1% 12,428 1,937 14,365 13.5%

TURKON LINE 9,286 5,323 14,609 36.4% 10,179 4,028 14,208 28.4%

AGRICULTURE INVESTMENT EXPORT INC

11,302 - 11,302 0.0% 12,474 - 12,474 0.0%

LINEA PENINSULAR 7,407 2 7,409 0.0% 9,940 - 9,940 0.0%

TRAILER bRIDGE INC 15,510 6 15,516 0.0% 9,775 - 9,775 0.0%

KING OCEAN SERVICES 5,776 99 5,875 1.7% 6,700 34 6,734 0.5%

LIbRA NAVEGACAO 6,631 2,067 8,698 23.8% 5,475 1,233 6,707 18.4%

COMPANIA LIbRA DE NAVEGACION (URUGUAY) S A

4,609 2,721 7,330 37.1% 4,603 1,323 5,926 22.3%

ISAbELLA SHPG CO LTD 4,460 71 4,531 1.6% 5,527 9 5,536 0.2%

TOP 50 CARRIERS TOTAL 5,532,633 2,705,618 8,238,251 32.8% 5,746,407 2,859,096 8,605,504 33.2%

GRAND TOTAL 5,596,391 2,710,690 8,307,082 32.6% 5,832,548 2,863,650 8,696,198 32.9%

1H-2010 1H-2011


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Among the top 50 carriers in US trade lanes, NVOCC cargo was about 1/3 (32.6%) of the total volume imported. Among all carriers (top 50 plus others), NVOCC use was approximately the same (32.0%). This raises the question of whether NVOCC use can contribute significantly to carrier volume and market share, whether carriers would capture the same level of cargo without NVOCC intermediation. Such a topic would require a rigorous modeling effort where carrier volume is specified as some function of NVOCC use, plus a host of other critical variables including overall transport demand, freight rates, alliance membership, advertising, contract conditions, and so on. We can, however, explore in a general sense, the relationship between carrier volume and NVOCC use by means of a simple statistical portrait and analysis.

We create the sample by including just the top 50 carriers by volume and the NVOCC share of that volume for 1H-2011 and 1H-2010. We exclude carriers with zero NVOCC volume for either of the periods. These conditions generate a sample of 86 observations. To provide a sense of the direction of the relationship, we create a scatter plot (Figure 7) of carrier volume against NVOCC share of that volume. To facilitate visualization of the relationship, both volume and share are converted to their natural logarithms, the latter scaled by a magni-tude of 1000. The plot reveals an unequivocally positive relationship between NVOCC use and carrier volume.

Figure 7: Scatter Plot of Carrier Volume and NVOCC Usage – All Top 50 Carriers

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A scan of the plot suggests that the relationship appears tighter, i.e., more robust at higher volume levels than lower volume levels. To determine the extent of the differential, we split the sample according to its median volume. Carriers with greater than the median value are plotted in Figure 8. Those with volume in the lower half of the median are plotted in Figure 9.

Figure 8: Scatter Plot of Carrier Volume and NVOCC Usage – Carriers with Greater Than Median Volume

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Figure 9: Scatter Plot of Carrier Volume and NVOCC Usage – Carriers with Less Than Median Volume

Splitting the sample and plotting them separately supports the suspicion that the relationship between NVOCC use and carrier volume differs across carrier size. This makes intuitive sense as larger carriers with relatively more deployed capacity are better able to accommodate NVOCC demands for space. It should be cautioned that the above results are for consideration and are not claimed to be definitive. In particular, the analysis does not account for issues of causality. While increased use of NVOCCs is associated with higher volume, higher volume and therefore higher deployed capacity may also support increased NVOCC participation. Nevertheless, the analysis is intriguing and if correct, shows that NVOCCs can benefit carriers, particularly those with sufficient vessel capacity to accom-modate NVOCC demands for vessel space.

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conclusIon

The 1H-2011 PIERS NVOCC Market Report documents ongoing and gradual growth in the participation of NVOCCs in the US ocean liner market. While overall growth of NVOCCs in 1H-2011 was moderate, it exceeded that of total trade growth in terms of volume and especially in terms of value. NVOCCs earned slight increases in market share for both measures.

The regional performance of NVOCCs was mixed with generally positive growth observed in the largest markets in terms of volume. In value terms, NVOCC growth in the largest Transpacific and Transatlantic markets was positive but share receded in several of the other markets.

In the next PIERS NVOCC Market Report, we will explore and attempt to understand the relationship between market size and NVOCC participation. Similar to our carrier analysis at the end of the current report, PIERS analysts will provide a graphic representation of the relationship between NVOCC growth and regional market growth and will offer a statistical portrait of the relationship.

pIers: tHe stanDarD In traDe IntellIGence

NVOCCs have been very successful and control a significant portion of the containerized cargo in U.S. foreign waterborne trade that is growing rapidly. Some NVOCCs carry as much, if not more, cargo volume than some ocean carriers. NVOCCs do not just carry small, individual shipments consolidated into a single container. According to the World Shipping Council, a high percentage, perhaps up to 50%, of NVOCCs’ cargo is full container loads for single shippers. Yet, as this report reveals, they are all winners posting increases as well as decreases in market share or TEU volume.

As you leverage the PIERS data in this report to gain intelligence for your organization, you may wish to enhance your knowledge with additional PIERS import and export research data to deepen or broaden your perspectives. PIERS stands ready to provide or generate augmented data and analysis on any aspect of this report. To learn more visit www.PIERS.com/transportation, email [email protected], or call 800.952.3839 / outside the U.S. call 973.776.8660.

PIERS NVOCC MARKET REPORT-IMPORTS ONLY · PIERS NVOCC MARKET REPORT - IMPORTS ONLY IMPORT DYNAMICS:...

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