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 Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Blackstone Unlikely to Enter Commodities Trade

Blackstone exec doesn't expect move into commodities in near term Blackstone Group LP is unlikely to make a foray into commodity trading in the short term as

Ex-BP Employee Settles Insider-trading Oil Spill Case

A former 20-year veteran of BP plc who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges

Intesa Sanpaolo, Vei Capital Invest in RINA

Intesa Sanpaolo, through the Merchant Banking Management of its Corporate and Investment Banking Division, and VEI Capital, investment company of Palladio Finanziaria

 
 
Maritime Contracts Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair 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: 0.0701 sec (14 req/sec)