Box volumes on eastbound trade booming

Eastbound container volumes to Asia grew by 12.57 per cent in October to 464,689 TEUs, as against 413,249 TEUs in October 2008, according to figures released by the European Liner Affairs Association (ELAA).

However, volumes on the westbound trade from Asia decreased by 10 per cent in October to 962,818 TEUs, down from 1,074,486 TEUs during the corresponding month of 2008.

"The export trades from Europe to Asia are now enjoying a mini boom," ELAA said, indicating that the year-long decline in the Asia-Europe container trade is slowing.

"The importance of this figure is that it reduces the container imbalance significantly," ELAA elaborated.
According to the ELAA’s figures, container traffic from Northern Europe to Asia increased by 9.86 per cent, while shipments from the West Mediterranean and North Africa rose by 12.04 per cent, while Black Sea and East Mediterranean volumes surged by 51.07 per cent.

The report noted that "higher cargo volume, coupled with increasing numbers of laid-up ships, is driving up freight rates on the Asia-Europe trades, with the westbound price index rising to 78 in September from 48 in March."

The ELAA’s latest monthly report showed that "while the recovery in freight rates is most notable on the Asia-Europe routes, all container routes out of Europe are showing signs of improvement."

On the other hand, the Europe-North America trade suffered double-digit declines in both directions in October.

Westbound shipments fell by 16 per cent to 253,400 TEUs, down from 300,400 TEUs in October 2008, while eastbound traffic to Europe dwindled by 17 per cent in October to 220,200 TEUs compared to the same month of last year, Exim News Service reports.

Source: Transport Weekly