Cargo shipments between Honolulu and six neighbor island ports fell 1.1 percent in the third quarter of 2012 from the same period a year earlier, the state’s main interisland shipping company reported Thursday.
For the first nine months of the year, shipments are down 0.2 percent, according to the Young Brothers Quarterly Shipping report, a key barometer of neighbor island economic activity.
The third-quarter decline followed a 2.7 percent drop in the second quarter and a 2.6 percent increase in the first quarter.
"We saw a slight downtick in the third quarter, but overall, cargo volumes were relatively stable," said Glenn Hong, president of Young Bros. "Still, we’re hoping to see our quarterly comparisons get back into positive territory as we round out the last quarter of 2012," he said.
The report tracks cargo volumes using a standard unit of measurement called "container/platform equivalents." Young Bros. uses the measurement to compare cargo volumes across different sizes of containers.
For the July-through-August period, the volume of cargo from Honolulu to six neighbor island ports totaled 32,135 container/platform equivalents, down 1.1 percent from 32,494 CPEs in the third quarter of 2011.
Kawaihae Harbor on Hawaii island experienced the largest decline in cargo volume, an 8.2 percent drop. The decline was driven by a 36 percent decrease in outbound cargo, primarily bottled water, according to Young Bros. Inbound cargo to Kawaihae increased by 5 percent.
The Port of Lanai, which has the smallest cargo volume, saw its shipments rise by 34.3 percent. The increase was largely due to Young Bros. taking over shipments of the island’s fuel supply, which were previously handled by another carrier. In addition, Lanai has experienced an increase in shipments of materials for building improvements and renovations, according to Young Bros.
Hong noted that while statewide cargo volumes declined, shipments of agricultural products rose 10 percent. Young Bros. provides a discount of 30 percent to 35 percent for locally produced agricultural products.
INTERISLAND SHIPPING
Young Bros.’ shipments of goods between Honolulu and the neighbor islands edged lower in the third quarter compared with a year earlier.
| |
2012 |
2011 |
CHANGE |
| All ports |
32,135 |
32,494 |
-1.1% |
| Kahului, Maui |
10,781 |
10,571 |
2% |
| Hilo |
7,752 |
7,845 |
-1.2% |
| Kawaihae, Hawaii |
4,818 |
5,248 |
-8.2% |
| Nawiliwili, Kauai |
6,585 |
6,751 |
-2.5% |
| Kaunakakai, Molokai |
1,346 |
1,444 |
-6.8% |
| Kaumalapau, Lanai |
853 |
635 |
34.3% |
Young Bros. measures its cargo in units called “container/platform equivalents” which allow a comparison of cargo volumes across different sizes of containers
Source: Young Bros. Ltd.
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