Container Industry: Slump to 50 Year Low

Thursday, September 01, 2011

According to a report on Bloomberg, the container-shipping industry is dealing with the longest stretch of near-zero rates in its half-century history on the Asia-to-Europe route, a double whammy of stagnate global economy and a capacity glut.
Commerce on the world’s second-busiest container route rose 4.2% in the second quarter, according to the Bloomberg report, the weakest since the end of 2009, Woking, England-based Container Trade Statistics Ltd. estimates.
Container trade on the Asia-Europe route will expand by an average of 4 to 6% this year, compared with 15 percent growth in fleet capacity, according to Morgan Stanley, cited by Bloomberg.
The Asia-to-Europe container route is exceeded only by trade from Asia to the U.S. West Coast and accounts for about 9 percent of annual global shipments of 139.9 million 20-foot equivalent units, the benchmark container size, according to Clarkson Plc.
 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Container Ships

FMC Commissioners Meet with China Transport Officials

Federal Maritime Commissioners Richard A. Lidinsky, Jr. and William P. Doyle met with transportation officials from China on January 14, 2015 in Washington, D.C.

Maersk Chief Warns on Global Trade

Nils Andersen,  chief executive  of AP Møller-Maersks, has warned that global trade will never return to scorching pre-crisis growth rates, in part because western

Indian Shipping Ministry Seeks Tax Sops

India's shipping ministry is asking for a tax holiday and more incentives for the shipbuilding industry in the upcoming Union budget, according to a report in the Economic Times.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0708 sec (14 req/sec)