Weekly Report of China Export Container Transport Market
(CCFI Commentary in Issue 50, 2010)
This week, China’s containerized transport market witnessed a modest upswing, where a conventional export rush before the Spring Festival was seen in most services, pulling up the cargo volume substantially. On December 17th, the China Containerized Freight Index issued by Shanghai Shipping Exchange reported 1058.11 points; while the Shanghai Containerized Freight Index nailed at 1086.38 points, both of which down 1.4% from last week.
In Europe service, cargo volume obviously ascended with the slot utilization for most voyages climbing to 95% and laden for some. The figure for the Mediterranean service showed no less than 90%. Downward trajectory this week was alleviated as the market improved. On December 17th, the freight rate (ocean freight plus surcharges) for the voyages from Shanghai to base ports in Europe and Mediterranean fixed at USD 1333/TEU and USD 1236/TEU, respectively down 0.3% and 0.9% from last week. The drop narrowed by 1.2% and 1.1% respectively compared with the last week. Pundits believe the boom in December was mainly triggered by the manufacturers’ export impulse for fulfilling their annual plans, combined with the constant appreciation of the Euros. The demand for capacity will keep mounting while the conventional peak season before the Spring Festival is approaching, which will lead to a market equilibrium and subsequently the rally of the freight rate. Several carriers are understood to up shift the freight rate on January 1st , 2011 by about USD 300/TEU, yet still whether the rate rise would be fully achieved remains to be seen.
Quite similar with the Europe service, cargo volume rebounded for the North America service this week as the coming shipment rush before the end of the year. Carriers were keen on adding capacity, with the statistics showing that the number of the voyages from Shanghai to North America reported 183 in December, up by 9 from November. As a result, the expanding capacity offset the profit brought by the thriving shipment. On December 17th, the freight indices of the US west coast and US east coast issued by Shanghai Shipping Exchange were 1002.21 points and 1199.71 points, respectively down 2.0% and 0.5%.
In South America EAST COAST service, cargo volume revealed sluggish this week, causing slot utilization on most of the voyages at a lower level, and freight rate slumped. On December 17th, the freight rate (ocean freight plus surcharges) for the voyages from Shanghai to base ports in South America showed USD 1521/TEU, slipped 4.0% from last week.
In Australia and Singapore service this week the cargo volume went up slightly, yet the slot utilization only averaged at 70%, pressing the freight rate going down. On December 17th, the freight rate (ocean freight plus surcharges) for the voyages from Shanghai to base ports in Australia and Singapore quoted USD 918/TEU, down 5.1% from last week. Cargoes loaded on the vessels next week will be scheduled to arrive at the acceptance places when Christmas holiday ends in most ports, which will encourage the exports. Considering the rally of the capacity demand, carriers were poised to restore the freight rate on January 15th , 2011 with its range depending on market circumstances.

viernes, 31 de diciembre de 2010
lunes, 20 de diciembre de 2010
China's foreign trade to hit new high, but exports environment worsens
Dec 17 -- China's foreign trade is expected to hit a historic high this year, yet the nation's exporters are likely to come up against more trade barriers as the world economy struggles to stage a bullish recovery.
The total value of China's imports and exports are projected to exceed 2.9 trillion U.S. dollars in 2010, Vice Commerce Minister Zhong Shan told a press conference Friday.
The nation's foreign trade rebounded sharply this year from the recession level in 2009, when foreign trade contracted to 2.21 trillion U.S. dollars, down 13.9 percent from 2008.
China's foreign trade jumped 36.3 percent year on year to 2.67728 trillion U.S. dollars in the first 11 months of the year, with exports up 34 percent from one year ago, according to the latest customs figures.
However, this year is the most complicated year for Chinese exporters, as China was frequently pressed in issues ranging from the renminbi exchange rate, independent innovation, new energy policies to intellectual property rights, investment environment, and rare earth exports.
China was the subject of 56 trade remedy investigations launched by 19 countries and regions in the first 11 months, with a total involved value of about 7 billion U.S. dollars, statistics from the MOC Bureau of Fair Trade for Imports and Exports show.
In addition, the United States launched 19 investigations into alleged intellectual property rights infringements by Chinese companies over the period, and one into China's clean energy sector, claiming government support gave Chinese producers unfair advantages, according to the MOC bureau.
Trade frictions against China have increased as emerging economies have joined developed nations in their wariness of trade imbalances, and now energy and electronic products are being targeted as well as labor-intensive products such as textile and chemical products, said Zhong.
In the first half of the year, members of the World Trade Organization (WTO) launched a total of 69 anti-dumping probes and five anti-subsidy investigations worldwide, down 29 percent and 44 percent year on year, respectively, said Yang Yi, director with the MOC Bureau of Industry Injury Investigation.
Despite a decline in the number of global trade remedy probes amid a worldwide economic recovery, China's exporters still face a challenging external environment. Trade investigations have remained frequent this year and trade frictions regarding intellectual property rights and fair spread of technology have increased, said a report issued by the ministry Friday.
The report said China has become a major target of trade remedy investigations this year because trade protectionism has gained momentum as European countries and the United States attempt to narrow their trade deficits.
The report also forecast that frequent trade frictions will last for sometime, as major economies are inclined to be more inward looking given the uncertain global economic outlook.
The report suggested China more frequently resort to WTO dispute settlement mechanisms. The nation had filed six WTO complaints by the end of 2009 since it joined the organization in November 2001, according to the report.
The government will increase its efforts to establish systems to better safeguard the country's industrial security and the legitimate rights of the domestic enterprises, and it will also promote industrial communications, in an effort to iron out trade conflicts between domestic and their overseas counterparts, said Zhong.
(Source:Xinhua)
The total value of China's imports and exports are projected to exceed 2.9 trillion U.S. dollars in 2010, Vice Commerce Minister Zhong Shan told a press conference Friday.
The nation's foreign trade rebounded sharply this year from the recession level in 2009, when foreign trade contracted to 2.21 trillion U.S. dollars, down 13.9 percent from 2008.
China's foreign trade jumped 36.3 percent year on year to 2.67728 trillion U.S. dollars in the first 11 months of the year, with exports up 34 percent from one year ago, according to the latest customs figures.
However, this year is the most complicated year for Chinese exporters, as China was frequently pressed in issues ranging from the renminbi exchange rate, independent innovation, new energy policies to intellectual property rights, investment environment, and rare earth exports.
China was the subject of 56 trade remedy investigations launched by 19 countries and regions in the first 11 months, with a total involved value of about 7 billion U.S. dollars, statistics from the MOC Bureau of Fair Trade for Imports and Exports show.
In addition, the United States launched 19 investigations into alleged intellectual property rights infringements by Chinese companies over the period, and one into China's clean energy sector, claiming government support gave Chinese producers unfair advantages, according to the MOC bureau.
Trade frictions against China have increased as emerging economies have joined developed nations in their wariness of trade imbalances, and now energy and electronic products are being targeted as well as labor-intensive products such as textile and chemical products, said Zhong.
In the first half of the year, members of the World Trade Organization (WTO) launched a total of 69 anti-dumping probes and five anti-subsidy investigations worldwide, down 29 percent and 44 percent year on year, respectively, said Yang Yi, director with the MOC Bureau of Industry Injury Investigation.
Despite a decline in the number of global trade remedy probes amid a worldwide economic recovery, China's exporters still face a challenging external environment. Trade investigations have remained frequent this year and trade frictions regarding intellectual property rights and fair spread of technology have increased, said a report issued by the ministry Friday.
The report said China has become a major target of trade remedy investigations this year because trade protectionism has gained momentum as European countries and the United States attempt to narrow their trade deficits.
The report also forecast that frequent trade frictions will last for sometime, as major economies are inclined to be more inward looking given the uncertain global economic outlook.
The report suggested China more frequently resort to WTO dispute settlement mechanisms. The nation had filed six WTO complaints by the end of 2009 since it joined the organization in November 2001, according to the report.
The government will increase its efforts to establish systems to better safeguard the country's industrial security and the legitimate rights of the domestic enterprises, and it will also promote industrial communications, in an effort to iron out trade conflicts between domestic and their overseas counterparts, said Zhong.
(Source:Xinhua)
lunes, 13 de diciembre de 2010
Will carriers recreate the sucess of this year's rate hikes in 2011?
FREIGHT rates saw a recovery in January this year. Will we see a repeat performance this coming January? Some industry analysts have recently commented that freight rate hikes seem unlikely to happen soon, but some leading carriers, seeing the potential surge in demand at the outset of next year, do expect the same early rate spike will reoccur this time around also.
The world's three largest shipping lines have announced freight rate increments.
Maersk, the world's largest carrier, has announced that the freight rates for Asia-Central America and west coast South America trade lanes will be increased from US$250 to $300 per TEU starting January.
Likewise, Mediterranean Shipping Company (MSC), the second largest carrier, is going to raise rates on various trades with effect from January 1. The suggested increases are $280 per TEU, as well as $400 per FEU and 40-foot high cube containers for trades between Asia and the Caribbean, Central America East Coast, Cartagena, Panama and Venezuela...
CMA CGM has announced rate increases from January 1. Its Asia-North America freight rates will increase by $320 per TEU, $400 per FEU, $450 per 40-foot high cube or reefer and $510 per 45-footer. Rates between West Africa and the Far East, as well as between west Asia and India, will raise $100 per TEU.
For Asia-Europe trade lanes, rate increases announced by carriers are between $500 and $600 per FEU.
Also, the US Transportation Security Administration (TSA) has announced a $400 per FEU guideline rate hike for the 2011-12 transpacific contract season, according to Paris-based maritime agency Alphaliner.
However, according to statistics from the Shanghai Shipping Exchange (SSE), freight rates from China have been shrinking in the past five months. The spot rates have declined by 29 per cent after reaching its pinnacle in July.
Alphaliner analysed that the two key factors - capacity and inventory levels - that led to freight rate increases last year are not seen now, implying that the proposed rate hikes will not succeed this time.
Carriers are reported to be reluctant to reduce capacity in the current winter period and some even continue to add new capacity despite the moderate utlisation levels. Inventory levels have also reached a new record high in the US in November as the peak season was pushed forward this year because shippers ordered the goods earlier than usual.
Alpahliner further pointed out that weekly capacity on the Far East-Europe and Far East-North America routes is now 19 per cent higher than 12 months ago.
Barring further capacity cuts, said a Alphaliner report, there will be sufficient capacity in forthcoming January when shippers rush to move goods before Chinese New Year holidays that start the first week of February.
The world's three largest shipping lines have announced freight rate increments.
Maersk, the world's largest carrier, has announced that the freight rates for Asia-Central America and west coast South America trade lanes will be increased from US$250 to $300 per TEU starting January.
Likewise, Mediterranean Shipping Company (MSC), the second largest carrier, is going to raise rates on various trades with effect from January 1. The suggested increases are $280 per TEU, as well as $400 per FEU and 40-foot high cube containers for trades between Asia and the Caribbean, Central America East Coast, Cartagena, Panama and Venezuela...
CMA CGM has announced rate increases from January 1. Its Asia-North America freight rates will increase by $320 per TEU, $400 per FEU, $450 per 40-foot high cube or reefer and $510 per 45-footer. Rates between West Africa and the Far East, as well as between west Asia and India, will raise $100 per TEU.
For Asia-Europe trade lanes, rate increases announced by carriers are between $500 and $600 per FEU.
Also, the US Transportation Security Administration (TSA) has announced a $400 per FEU guideline rate hike for the 2011-12 transpacific contract season, according to Paris-based maritime agency Alphaliner.
However, according to statistics from the Shanghai Shipping Exchange (SSE), freight rates from China have been shrinking in the past five months. The spot rates have declined by 29 per cent after reaching its pinnacle in July.
Alphaliner analysed that the two key factors - capacity and inventory levels - that led to freight rate increases last year are not seen now, implying that the proposed rate hikes will not succeed this time.
Carriers are reported to be reluctant to reduce capacity in the current winter period and some even continue to add new capacity despite the moderate utlisation levels. Inventory levels have also reached a new record high in the US in November as the peak season was pushed forward this year because shippers ordered the goods earlier than usual.
Alpahliner further pointed out that weekly capacity on the Far East-Europe and Far East-North America routes is now 19 per cent higher than 12 months ago.
Barring further capacity cuts, said a Alphaliner report, there will be sufficient capacity in forthcoming January when shippers rush to move goods before Chinese New Year holidays that start the first week of February.

viernes, 10 de diciembre de 2010
Rate fall: is it seasonal or is there a bigger problem brewing?

FREIGHT rates on the major east-west trades continue to slide in the fourth quarter, leaving some analysts to ponder whether this is the usual slackening off for the end of year or is there something more to the recent decline?
One of the key concerns some industry watchers are keeping an eye on is the growing overcapacity creeping into the market.
RS Platou analysts reported that Asia-Europe freight rates have fallen 10 per cent from the third quarter thus far, and have projected that by the end of the year this dip will increase to 15 per cent.
In its Shipping Weekly report, RS Platou said it believes we will see a pickup in rate late in the first quarter of 2011, however, if carriers are not disciplined in the current slack season then we could be looking at a severe negative impact on carrier profitability…
jueves, 9 de diciembre de 2010
Weekly Report of China Export Container Transport Market
(CCFI Commentary in Issue 47, 2010)
This week, the China’s containerized transport market carried on the downward trajectory because of the slack season prevailing on the main services like Europe and North America, pulling down not only the capacity demand but also the freight rate.
On November 26th, the China (Export) Containerized Freight Index issued by Shanghai Shipping Exchange (SSE) reported 1089.18 points, down 0.7% from last week; while the Shanghai (Export) Containerized Freight Index showed 1157.45 points, down 2.7%.
Traders on the Europe service slowed down their shipment consignment, as a result the slot utilization of the voyages could hardly maintain at 80% ~ 85%, and the freight rate touched a record low in this year citing the sharply slump of the cargo volume.
On November 26th, the freight index of the Europe and Mediterranean services issued by SSE reported 1552.05 points and 1606.34 points, decreased 0.9% and 1.2% from last week.
Pundits indicated that so weak the market was right now that the demand of capacity kept shrinking, triggering the fright rate to drop inevitably. However, the rate would be very likely to rebound with the shipment rush during the new year’s day and the reactivation of the European merchants.
Just like Europe, the North America service maintained the previous downward momentum, where the slot utilization for voyages in US west coast slid to about 80%, while in US east coast the figure saw 70% ~ 75%. The declining trend of cargo volume seemed unstoppable, besides, most carriers on the service had yet to cut the capacity, consequently the glut of capacity caused by which considerably depressed the freight rate.
On November 26th, the freight rate (ocean freight plus surcharge) for the voyages from Shanghai to base ports in US west coast and US east coast quoted USD 1977/FEU and USD 3172/FEU, respectively down 3.5% and 2.8%. Still, no signs of recovery could be perceived in the American economy, as the report issued by US Federal Reserve on the November 23rd, the economic growth rate had been shifted to 2.4% ~ 2.5%, lower than the 3% ~ 3.5% established in June. Besides, the excessive money supply engendered by the US’ outperformed quantitative currency easing policy may evoke a global inflation, whose negative social effect would show increasingly evident in the next few months and thus bringing a lot of uncertainties to the China’s export containerized transport.
In Australia and Singapore service, the substantial decrease of the cargo volume attributing to the finished Christmas shipment in last week had descended the slot utilization to 80% ~ 85%, as a result, carriers hold on from uplifting the freight rate.
On November 26th, the freight index of the Australia and Singapore services issued by SSE saw 1047.25 points, almost the same with last week. With the reference of the custom in the past, the freight rate on the service may probably follow the tracks of the previous downward trend on the Europe and North America services in the next quarter.
Unlike others, the Japan service, in sharp contrast, was at its conventional peak season, where the cargo volume revealed more and more strong and the slot utilization for the voyages on the service had climbed to 80%. Besides, freight rate remain steady.
On November 26th, the freight index of the Japan service issued by SSE showed 760.4 points, basically no change with last week.
This week, the China’s containerized transport market carried on the downward trajectory because of the slack season prevailing on the main services like Europe and North America, pulling down not only the capacity demand but also the freight rate.
On November 26th, the China (Export) Containerized Freight Index issued by Shanghai Shipping Exchange (SSE) reported 1089.18 points, down 0.7% from last week; while the Shanghai (Export) Containerized Freight Index showed 1157.45 points, down 2.7%.
Traders on the Europe service slowed down their shipment consignment, as a result the slot utilization of the voyages could hardly maintain at 80% ~ 85%, and the freight rate touched a record low in this year citing the sharply slump of the cargo volume.
On November 26th, the freight index of the Europe and Mediterranean services issued by SSE reported 1552.05 points and 1606.34 points, decreased 0.9% and 1.2% from last week.
Pundits indicated that so weak the market was right now that the demand of capacity kept shrinking, triggering the fright rate to drop inevitably. However, the rate would be very likely to rebound with the shipment rush during the new year’s day and the reactivation of the European merchants.
Just like Europe, the North America service maintained the previous downward momentum, where the slot utilization for voyages in US west coast slid to about 80%, while in US east coast the figure saw 70% ~ 75%. The declining trend of cargo volume seemed unstoppable, besides, most carriers on the service had yet to cut the capacity, consequently the glut of capacity caused by which considerably depressed the freight rate.
On November 26th, the freight rate (ocean freight plus surcharge) for the voyages from Shanghai to base ports in US west coast and US east coast quoted USD 1977/FEU and USD 3172/FEU, respectively down 3.5% and 2.8%. Still, no signs of recovery could be perceived in the American economy, as the report issued by US Federal Reserve on the November 23rd, the economic growth rate had been shifted to 2.4% ~ 2.5%, lower than the 3% ~ 3.5% established in June. Besides, the excessive money supply engendered by the US’ outperformed quantitative currency easing policy may evoke a global inflation, whose negative social effect would show increasingly evident in the next few months and thus bringing a lot of uncertainties to the China’s export containerized transport.
In Australia and Singapore service, the substantial decrease of the cargo volume attributing to the finished Christmas shipment in last week had descended the slot utilization to 80% ~ 85%, as a result, carriers hold on from uplifting the freight rate.
On November 26th, the freight index of the Australia and Singapore services issued by SSE saw 1047.25 points, almost the same with last week. With the reference of the custom in the past, the freight rate on the service may probably follow the tracks of the previous downward trend on the Europe and North America services in the next quarter.
Unlike others, the Japan service, in sharp contrast, was at its conventional peak season, where the cargo volume revealed more and more strong and the slot utilization for the voyages on the service had climbed to 80%. Besides, freight rate remain steady.
On November 26th, the freight index of the Japan service issued by SSE showed 760.4 points, basically no change with last week.
miércoles, 1 de diciembre de 2010
Mum Maersk denies it 'signed' for ten 18,000-TEU ships
MAERSK Line, the largest carrier of the world, has denied it has signed a contract for ten 18,000-TEU containerships with South Korea shipbuilder Korea's Daewoo Shipbuilding & Marine Engineering.
It was reported by Lloyds List that the orders would amount to US$2 billion, and Korea Economic Daily also reported that Daewoo would sign a $4 billion order for 20 vessels with Maersk - reports echoed around the world including in the Hong Kong Shipping Gazette.
But Maersk spokesman Michael Storgaard said the company had not signed any deal, but at the same time, would not comment on whether it such a eventuality was being discussed with any shipyard, said ComPair Data, an American Shipper affiliate.
Still it is reported that Maersk and Daewoo are working together for designing new mega vessels that are powered by liquefied natural gas (LNG), helping the carrier to further reduce the overall CO2 emission and better implement the slow steaming strategy to cut fuel costs.
"The trend in economies of scale for containerships is apparently not over," said founder of Hong Kong-based Transport Trackers Charles de Trenck in an email, cited ComPair Data.
It was reported by Lloyds List that the orders would amount to US$2 billion, and Korea Economic Daily also reported that Daewoo would sign a $4 billion order for 20 vessels with Maersk - reports echoed around the world including in the Hong Kong Shipping Gazette.
But Maersk spokesman Michael Storgaard said the company had not signed any deal, but at the same time, would not comment on whether it such a eventuality was being discussed with any shipyard, said ComPair Data, an American Shipper affiliate.
Still it is reported that Maersk and Daewoo are working together for designing new mega vessels that are powered by liquefied natural gas (LNG), helping the carrier to further reduce the overall CO2 emission and better implement the slow steaming strategy to cut fuel costs.
"The trend in economies of scale for containerships is apparently not over," said founder of Hong Kong-based Transport Trackers Charles de Trenck in an email, cited ComPair Data.
LOW ENVIRONMENTAL IMPACT
There is little if any dispute about the fact that shipping is the most carbon-efficient mode of transportation. According to a recent report of an IMO expert working group, international maritime shipping accounts for 2.7% of annual global greenhouse gas emissions. And according to analysis by the Swedish Network for Transport and the Environment, shipping also produces fewer exhaust gas emissions - including nitrogen oxides, hydrocarbons, particulates, carbon monoxide and sulfur dioxide - for each ton transported one kilometer than air or road transport.
Notes of interest:
• A ton of goods can be shipped from the Port of Melbourne, Australia to the Port of Long Beach, U.S.A, a distance of 12,770 kilometers (7,935 miles) while generating fewer CO2 emissions than are generated when transporting the same cargo in the U.S. by truck from Dallas to Long Beach, a distance of 2,307 kilometers (1,442 miles).
• Similarly, a ton of goods can be moved from the port of Ho Chi Minh City, Vietnam to Tianjin, China, a distance of 3,327 kilometers (2,067 miles) generating fewer CO2 emissions than would be generated if the same goods were trucked from Wuhan in Central China to Tianjin, a distance of just 988 kilometers (614 miles).
• The wine industry recently found that a bottle of French wine served in a New York restaurant will have a lower carbon transportation footprint than a bottle of California wine served in that restaurant.
• A whitepaper released for the Transport Intelligence Europe Conference states that researchers conducting an evaluation for the World Economic Forum "found that the entire container voyage from China to Europe is equaled in CO2 emissions by about 200 kilometers of long-haul trucking in Europe. So, for most freight, which is slow moving, there is not really a green benefit to moving production to Europe."
Nevertheless, the size and global nature of the shipping industry makes it important for the industry to continuously work to reduce its environmental impact, and there is evidence that the industry has made significant progress. A recent study by Lloyd's Register found that the fuel efficiency of container ships (4500 TEU capacity) has improved 35% between 1985 and 2008. Comparison between a modern 12,000 TEU ship built in 2007 and a 1500 TEU container in 1976 shows the carbon efficiency on a per-mile cargo volume basis has improved 75% in 30 years
Notes of interest:
• A ton of goods can be shipped from the Port of Melbourne, Australia to the Port of Long Beach, U.S.A, a distance of 12,770 kilometers (7,935 miles) while generating fewer CO2 emissions than are generated when transporting the same cargo in the U.S. by truck from Dallas to Long Beach, a distance of 2,307 kilometers (1,442 miles).
• Similarly, a ton of goods can be moved from the port of Ho Chi Minh City, Vietnam to Tianjin, China, a distance of 3,327 kilometers (2,067 miles) generating fewer CO2 emissions than would be generated if the same goods were trucked from Wuhan in Central China to Tianjin, a distance of just 988 kilometers (614 miles).
• The wine industry recently found that a bottle of French wine served in a New York restaurant will have a lower carbon transportation footprint than a bottle of California wine served in that restaurant.
• A whitepaper released for the Transport Intelligence Europe Conference states that researchers conducting an evaluation for the World Economic Forum "found that the entire container voyage from China to Europe is equaled in CO2 emissions by about 200 kilometers of long-haul trucking in Europe. So, for most freight, which is slow moving, there is not really a green benefit to moving production to Europe."
Nevertheless, the size and global nature of the shipping industry makes it important for the industry to continuously work to reduce its environmental impact, and there is evidence that the industry has made significant progress. A recent study by Lloyd's Register found that the fuel efficiency of container ships (4500 TEU capacity) has improved 35% between 1985 and 2008. Comparison between a modern 12,000 TEU ship built in 2007 and a 1500 TEU container in 1976 shows the carbon efficiency on a per-mile cargo volume basis has improved 75% in 30 years
Growth slows in Q4, but full year containerised trade forecast to post solid growth
FULL year global containerised trade growth is projected to reach 11.1 per cent to 138 million TEU in 2010 in spite of the slowdown in traffic across the major trade lanes in recent months, according to Clarkson Research Services.
Container Trade Statistics (CTS), which has recently taken over the task of distributing trade information on all trades to and from Europe from the now defunct European Liner Affairs Association, revealed in its latest report on the Asia-Europe trade that the monthly growth rate in the market has slipped to just five per cent year on year.
On the Indian Subcontinent and Middle East trade to Europe, the growth rate slipped to just 7.6 per cent, marking the first single digit increase on the trade since November 2009.
But according to Clarkson's recently published Container Intelligence Monthly report, some trades are maintaining their monthly year-on-year growth rates even in the final months of 2010, such as the Europe-North America trade.
FULL year global containerised trade growth is projected to reach 11.1 per cent to 138 million TEU in 2010 in spite of the slowdown in traffic across the major trade lanes in recent months, according to Clarkson Research Services.
Container Trade Statistics (CTS), which has recently taken over the task of distributing trade information on all trades to and from Europe from the now defunct European Liner Affairs Association, revealed in its latest report on the Asia-Europe trade that the monthly growth rate in the market has slipped to just five per cent year on year.
On the Indian Subcontinent and Middle East trade to Europe, the growth rate slipped to just 7.6 per cent, marking the first single digit increase on the trade since November 2009.
But according to Clarkson's recently published Container Intelligence Monthly report, some trades are maintaining their monthly year-on-year growth rates even in the final months of 2010, such as the Europe-North America trade.
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