1999 Container Trade Seen Mixed

Friday, February 25, 2000
Shipping container trade from Europe to Asia grew by 20 percent in 1999, but only by five percent for trade the other way, a senior shipping executive said. Tom Boardley, director of Europe-Asia trade at Anglo-Dutch group P&O Nedlloyd, said exports from Europe to Asia grew 20 percent in 1999 against 1998 and are now at pre-Asian crisis levels. "Growth has been driven by base commodities rather than luxury items," Boardley said. A weakening euro at the end of last year stimulated exports growth, he added. Japan remains the largest import market, accounting for a quarter of all European goods heading to Asia on container ships. But, Boardley said the highest percentage growth was seen in trade to China, Taiwan and Korea. Growth in container trade from Asia to Europe slowed to five percent compared with 15 percent in 1997-98 due to a combination of factors. "There was a tailing off of business from Japan, Singapore, Taiwan and Indonesia," said Boardley. Japan and Singapore's fall-off was viewed as part of a longer term trend while the drop in business from Taiwan and Indonesia were probably specific and short-term - respectively the earthquake in September and political unrest. Bunker prices, driven ever higher by soaring crude oil, continues to squeeze margins.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Offshore Casualty: Harkand Group Collapses

As the prolonged slump in energy prices continues to drag on a number of oil and gas and maritime players, word has it that Harkand Group has succumbed, according to staff reports and a report on www.

Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui,

ITIC Reports on Ship Agents' Costly Transhipment Errors

International Transport Intermediaries Club (ITIC) says it continues to deal on a regular basis with claims resulting from errors by agents involving transhipment cargoes.

 
 
Maritime Security Maritime Standards Navigation Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0609 sec (16 req/sec)