XSI® US
Imports & Exports A slight fall of 2.9% in the XSI for US imports has brought the index to 231.6 points in July. This is the only index still above 200, or still more than twice as expensive as the average rate in January 2017.
As one door opens, another shuts – one strike threat abates, but another materializes
A slight fall of 2.9% in the XSI for US imports has brought the index to 231.6 points in July.
This is the only index still above 200, or still more than twice as expensive as the average rate in January 2017.
Just as the threat of disruption from strikes at US West Coast ports passed with a deal, the Canadian chapter of the ILWU went on strike, disrupting imports through the ports of Prince Rupert and Vancouver, a considerable share of which then heads to the US.
The 13-day strike was initially ended by a tentative deal, before this was rejected by the longshore workers, bringing a new threat of strike action. Low import volumes and space at some ports allowed shippers and carriers to mitigate delays and find alternatives when the Canadian ports were temporarily closed.
The XSI for US exports stood at 135.5 in July, down by 7.3% from June. It is down by 14.9% since the end of last year, and one of the lowest XSI sub-indices.
Exports from North America have far outperformed imports so far this year, down by only 0.3%, compared to a 17.9% drop in imports.
However, exported volumes are still so much lower than imports that even with carriers removing capacity, there is plenty of space on board for goods leaving.
