US Importer Supply Chains Disrupted by Hanjin’s Bankruptcy
The bankruptcy of Hanjin Shipping has left thousands of TEUs in cargos at sea, with Hanjin vessels being turned away from ports of entry or, as reported by CNBC, seized in Chinese ports.
Ranked sixth in market share for Asia-North America shipping routes in first-half 2016, according to Datamyne trade data (as cited by Reuters), Hanjin Shipping’s abrupt exit from oceangoing commerce comes just as the peak shipping starts to ramp up. US retailers are asking the government to step in to help sort out a cargo snarl that “could have a substantial impact on consumers and the economy at large,” reports the Wall Street Journal.
We looked at our maritime trade data to identify the US importer supply chains disrupted by Hanjin’s bankruptcy. We focused on data drawn from the bills of lading for the carrier’s cargos arriving in US ports between August 1 and August 20 (trade data does not cover shipments in transit). According to this data, Samsung Electronics, with a steady flow of shipments from operations in Asia to its US-based companies, is both the top shipper and consignee using Hanjin Shipping US import routes. Here are the top 5 shippers and consignees ranked by volume of shipments in TEUs (20-foot-equivalent units, the standard measure of containerized trade):
Update 6 September 2016: Our original table provided accurate TEU counts, but transposed some percentages. We’ve replaced it with this updated table based on trade data for the full month of August 2016: Update 13 September: One last blog update of top shippers/consignees (adjusted data August 1-September 3) posted today. Get more Hanjin Shipping data at http://www.datamyne.com/hanjin-shipping-latest-trade-data-and-free-reports/
Breaking out the same data by Harmonized System of tariff codes, the furniture and bedding category (HS94) accounts for the biggest share by TEU volume of Hanjin’s cargos arriving at US ports August 1 through 20, followed in order by the codes that cover energy-generating machinery, appliances and electronics (HS84); electric machinery, sound and TV equipment (HS85); apparel (HS61); and toys, games and sporting equipment (HS95).
The table below summarizes what the data reveals about the top consignees within each of these product categories. Samsung is still prominent, but other importers emerge as category leaders, such as Coaster of America in the furniture category, Hanes Brands in apparel, and Microsoft in games.
We’ll continue to track and share the trade data on US importer supply chains disrupted by Hanjin’s bankruptcy. But if you need more data about a specific shipper, importer or product category, just ask us.
Date posted: September 2, 2016