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

Finance

Turkey’s Role for the Tanker Market

 Even though the coup attempt in Turkey  failed and the transportation situation normalized quickly thereafter, Poten & Partners take a look at the

China’s One Belt, One Road: Will it Reshape Global Trade?

The future of trade in Asia could depend heavily on what becomes of China’s expansive One Belt, One Road initiative, which calls for massive investment in and

IOC Mulls Buying GSPC's Stake in Mundra Terminal

Indian Oil Corporation (IOC), the country's largest oil company,  is in talks to buy debt-laden Gujarat State Petroleum Corp’s (GSPC) stake in the under-construction Rs.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Ship Simulators 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: 0.0578 sec (17 req/sec)