Young Bros. volume down
Intrastate cargo shipments decreased slightly during 2012’s second quarter, Young Brothers officials said Tuesday.
Intrastate volume overall was down 2.7 percent from April to June, compared to the same quarter of 2011.
“The drop in second-quarter volume reflects continued economic uncertainty,” Young Brothers President Glenn Hong said. “While we would prefer to reflect positive comparisons like we experienced in the first quarter of the year, the neighbor island economies at least appear to be stabilizing.”
Hong referred to the first quarterly report of the year, which showed a 2.6 percent increase from the beginning of 2011 to the beginning of 2012.
Kawaihae showed the second biggest decrease, 8.3 percent. Molokai showed the largest decline, at 11.4 percent.
At the same time, overall volumes were decreasing, Young Brothers officials noted a 7 percent increase in the amount of local agriculture products the company is shipping.
Looking at the first six months of 2012, Young Brothers said overall volume was 0.1 percent lower than the first half of 2011.
“Year to date, volume is basically the same as this point last year, meaning the neighbor island economies are hanging in there,” Hong said.
Three ports experienced an increases in volume for the first half of the year, while three ports saw a drop: Lanai climbed 12.2 percent; Kahului, Maui, up 2.6 percent; and Hilo increased slightly, up 1.2 percent. Volume for Kaunakakai, Molokai, was down 10.4 percent; Kawaihae, down 3.1 percent; and Nawiliwili, Kauai, down 2.5 percent. —WHT