Young Brothers’ cargo volume flat in second quarter
Young Brothers Ltd.’s interisland cargo shipments remained virtually flat during the second quarter as the company continued to experience weak volume in 2016.
The state’s largest interisland cargo carrier said today that volume edged up 0.6 percent in the second quarter from the year-earlier period as only two of the six neighbor island ports showed increases. It was the second consecutive quarter that volume rose just 0.6 percent.
Kahului, the largest neighbor island port in terms of volume with more than one-third of the shipments, inched up 0.4 percent while Hilo rose 5.3 percent. Volume includes both inbound and outbound shipments.
Elsewhere, cargo volume declined 3.1 percent for Nawiliwili on Kauai, fell 5.8 percent for Molokai and dropped 6.5 percent for Kawaihae on Hawaii island.
On Lanai, volume plunged 10.8 percent, marking a big turnaround from the first quarter when shipments jumped 21.9 percent as major construction companies shipped large amounts of supplies and equipment from Lanai with the completion of resort renovation projects in the first three months of the year.
“While we remain hopeful for a stronger second half, two consecutive quarters of this weak growth in cargo volumes to and from the neighbor islands is consistent with our low volume projection for the year,” Young Brothers Vice President Roy Catalani said in a statement.
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Agricultural shipments also were weak and fell 6.8 percent.