A quick glance into the Logistics Market
Georgia Logistics complies a monthly set of facts and figures regarding the Logistics Markets. We selected a few facts to share with you :-
The U.S. GDP increased 1.7% in the second quarter of 2012 according to the second preliminary estimate released by the Bureau of Economic Analysis
The unemployment rate in America fell to 8.1% in August 2012 despite only adding 96,000 net new jobs, down from the revised 141,000 new jobs created in July. The unemployment rate decreased in August due largely to the lowest labor participation rate in decades.
The consumer price index for all urban consumers increased 0.6% in August from the previous month. Over the last 12 months, the all items index increased 1.7%. The producer price index for finished goods increased 1.7% in August from the previous month. Prices for finished goods rose 2% over the previous year.
TRUCKING:
1. The ATA’s seasonally adjusted cargo index remained steady in July after rising 1.2% in June. The for-hire truck tonnage index rose 3.7% year-over-year.
2. The annualized turnover rate at large carriers reached 106% in the second quarter despite slower economic growth. A 100% turnover rate means truckload carriers need to replace the equivalent of their entire driver pool each year just to maintain employment and capacity at the same level. A high driver turnover rate can cost larger truckload companies millions of dollars a year. The turnover rate increased 16% over the 90% turnover rate from the first quarter.
AIR FREIGHT:
1. Global air freight traffic in July fell 3.2% from one year ago and remained steady from the previous month. North American air freight in July fell 3.5% year-over-year.
2. This year’s race to provide the latest smartphones and tablets is good news for many shipping companies, as it will likely raise airfreight rates significantly. Apple, Google, Microsoft and Amazon all have brand new offerings in mobile technology. It is anticipated that the critical mass of many new products will result in a crunch that will cause average airfreight rates to rise to $5 a kilogram in September, according to the SJ Consulting Group.
OCEAN FREIGHT:
1. Import shipment volume, in TEUs, at U.S. ports increased 9% in July from the previous month and rose 10.8% over the previous year. July saw the highest volume of imports seen in one month since August 2010, raising expectations for this year’s holiday season.
2. U.S. shippers are concerned about the impact of the potential strikes at U.S. East and Gulf Coast ports. The shipping lines are implementing huge surcharges in the case of a strike by the ILA. Some of the announced surcharges would amount to as much as $1,000 per container. Shippers are being faced with extra costs from the surcharges, possible penalties for mis-deliveries of goods, and consequences from lost sales.
WAREHOUSING & DISTRIBUTION
1. The U.S. average industrial vacancy rate was 9.3% during Q2 2012, down 0.3% from the previous quarter. Overall vacancy was 9.8% in Atlanta and 12.4% in Savannah during the second quarter.
2. Sewon America, Inc., the largest supplier for Kia Motors Manufacturing Georgia’s plant, will add 150 jobs and invest an additional $10 million in its existing LaGrange, Georgia plant. Sewon provides metal-stamping for a variety of automotive parts. This latest expansion will bring its total employment to 850 employees and investment to $180 million.
MULTIMODAL:
1. Dow Jones Transportation index was up 0.7% during the month of August.
2. Merchandise exports from Georgia increased by $600 million in the first half of 2012 compared to the same period in 2011. The increase from $17 to $17.6 billion included increases to Australia (+34%), China (+13%), Japan (+11%), Mexico (+11%), and the United Kingdom (+7%). Transportation equipment, machinery, chemicals, paper, and food were the primary export categories for the period.
3. In July, the U.S. imported about $225.3 billion of cargo. July U.S. imports have decreased 0.8% in terms of value from June, and grew 0.6% year-over-year.
4. In July, the U.S. exported more than $183.3 billion of cargo. July U.S. exports have decreased 1% in terms of value over the previous month and grew 2.8% year-over-year.
Quelle: eyefortransport
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