Young Bros. recovers to extend gains in interisland shipments

Cargo shipments between Honolulu and six neighbor island ports rose modestly in 2013 after a lackluster performance in 2012, Young Bros. Ltd. reported Wednesday.

Interisland shipments rose 1.5 percent in 2013 from the previous year, the company reported in its quarterly shipping report had increased 0.4 percent in 2012 in a year that featured sharp swings in quarterly cargo volumes.

The report includes inbound and outbound shipments from each port.

"We turned the corner in 2013, but we still have a long way to go relative to the boom period we experienced during the middle of last decade," said Glenn Hong, president of Young Bros.

"Cargo volumes started coming back in the second quarter last year and maintained relative strength to finish 2013 with some growth. We recognize that various economic reports have been mixed of late but we’re hopeful that there is enough fuel in the economy to continue to drive increasing cargo volumes in 2014, " he said.

After falling by 3.9 percent in the first quarter of 2013, shipments rose by 4.4 percent in the second quarter, 5.2 percent in the third quarter and 0.6 percent in the fourth quarter.

The only neighbor island port to experience a decline in shipping volumes last year was Kawaihae on Hawaii island, where shipments fell 4.7 percent. Shipping volumes increased by 1 percent at Kahului; by 2.1 percent at Hilo; by 4.5 percent at Nawiliwili, Kauai; by 7.2 percent at Kaunakakai, Molokai; and by 20.7 percent at Kaumalapau, Lanai.

The report tracks cargo volumes using a standard unit of measurement called "container/platform equivalents," or CPEs. Young Bros. uses the CPE measurement so it can compare cargo volumes across different sizes of containers.

For 2013, the volume of cargo from Honolulu to six neighbor island ports totaled 130,969 CPEs compared with 129,047 CPEs in 2012.

Most industry groups posted increases in 2013. Construction materials, manufactured goods and renewable energy equipment had the biggest increases, Hong said.

Shipments of agricultural products rose by 4.2 percent in 2013, down from an 11.6 percent increase in 2012. Young Bros. provides discounted shipping rates of 30 percent to 35 percent for agriculture products.