Brazil, Russia, India, China, Container Trade Grows

MarineLink.com
Tuesday, September 24, 2013

Although Brazil, Russia, India and China are suffering from overheated economies, the BRIC region is still generating attractive cargo growth, finds Drewry Shipping Consultants in their 'Container Insight Weekly'.

Container traffic loaded and discharged in the BRIC region’s ports in the first half of the year grew by an impressive 7.1% year-on-year, up to 90.7 million teu, which is significantly better than North America’s 1.2% and Europe’s 0%

Drewry Maritime Research considers that as Brazil’s, Russia’s, India’s and China’s maritime gateways handle little transhipment traffic, the change is a good barometer of what the downturn in their economies since the beginning of last year has meant to ocean carriers in terms of cargo carried in and out.



Although their economies slowed significantly, the message is that the BRIC region is still very much alive and kicking, with more than enough cargo around to keep ocean carriers happy were it not for the excess newbuild tonnage delivered in their chase for greater economies of scale.



Growth between 1H 12 and 1H 11 was only a slightly higher 7.6%, and this was maintained throughout the whole of 2012, which is a much better picture than that painted in terms of real GDP reductions for the whole of 2012, when Brazil’s output at constant prices fell from 2.7% to 0.9%. Russia’s fell from 4.3% to 3.4%, India’s fell from 7.7% to 4% and China’s fell from 9.3% to 7.8%, compared to overall cargo growth of 7.6%.



Drewry's view is that the BRIC region still has years of impressive cargo growth ahead of it.

Source: Drewry Container Shipping Insight Weekly

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

Contracts

HHI to Deploy 3DEXPERIENCE Design Platform

Hyundai Heavy Industries Selects Marine & Offshore Industry Solution Experiences for Design and Engineering of Offshore Structures Dassault Systèmes,

Canadian Icebreaker Refit Contracts Awarded

The Canadian Government informs it has awarded a $6.5 million contract to Babcock Canada Inc. for critical refit work for Canadian Coast Guard ship 'CCGS Louis S.

Atkins Gain Maersk Oil Engineering Contract

Design, engineering and project management consultancy Atkins, says it has been awarded an engineering support contract covering three of Maersk Oil’s UK assets in the North Sea.

Finance

Petroecuador Tenders to Buy High Octane Naphtha

State-run Petroecuador has launched two tenders to buy a total of 22 cargoes, 240,000 barrels each, of high octane naphtha RON 87 and 93 for delivery starting on May 21-23,

DP World in Talks With Banks for $3b Loan

Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and reduce the interest rate,

Norway's Oil Sector May Face More Project Cuts, Delays

More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off,

News

Mammoet Uses World’s Biggest Crawler Crane to Install Legs on Ship

Mammoet, a global company in engineered heavy lifting and transport, said it is currently employing its LR13000, the biggest crawler crane in the world, to install

Huisman Debuts Rope Luffing Knuckle Boom Crane

In order to provide reliable solutions for subsea installation in increasingly deeper water and offshore construction in severe weather conditions, Huisman introduces

Scafi Expands Fleet with Italian Damen Tug

Damen is to construct a new ASD 3212 tug for Scafi, the Italian shipping group that includes a number of international towing companies. The contract cements their

Logistics

No Lift for Konecranes as Q1 2014 Profit Slips

Finnish crane maker Konecranes on Thursday reported a 32-percent fall in its core quarterly operating profit amid slow demand and tight competition. January-March 2014 operating profit,

GAO: Limited Commercial Arctic Development Foreseen

Decreasing seasonal sea ice has opened up Arctic waters for longer periods with resulting potential economic opportunities in commercial shipping, cruises, commercial fishing, oil, and mining.

Brokers Marcon Conclude Ocean Deck Barge Sale

Marcon International, Inc. of Coupeville, Washington says that Pacific Coast Maritime, Inc., Seattle, Washington, a subsidiary of Harley Marine Services, Seattle,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.1294 sec (8 req/sec)