Bangkok Shipowners and Agents Association

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Bangkok Shipowners and Agents Association
To represent and promote the views and policies of the Association to the Thai Government and all other governmental official and non-governmental bodies which may be concerned with shipping.
Home News Shipping Industry News Asia-Europe cargo slump shows signs of slowing
Asia-Europe cargo slump shows signs of slowing PDF Print E-mail
Wednesday, 20 May 2009 00:53


CONTAINER lines serving the shell-shocked Asia-Europe trades enjoyed some respite in March as the pace of decline slowed.

Westbound volumes were down 12% on levels from a year earlier at just under 963,000 teu, according to European Liner Affairs Association data published Monday.

This represented a considerable improvement on the 32% collapse in liftings in February, when Asia-Europe cargoes shrank to just 576,700 teu.

The latest monthly data brought first quarter cargo volumes on one of the world's most important trade lanes to 2.5m teu, a fall of one-fifth from the corresponding 2008 figure of 3.2m teu.

Lines also saw some improvement in eastbound traffic, with the March figure of 430,800 teu representing a year-on-year drop of 4%. That compares with a 20% decline in February, bringing the first quarter contraction to 15%.

The ELAA represents most of the world's top container lines, with a couple of exceptions, and rounds up its statistics to account for the entire trade.

The one bright spot for container shipping is the eastbound trade from Europe to the Middle East and Indian sub-continent. Whereas westbound cargo volumes contracted by around 11% in each of the first three months of the year, eastbound container traffic rose by 4% in February and 7% in March.

Lines are now obtaining some minor rate increases in the Asia-Europe trades as conditions stabilise, and have further restoration efforts planned for later in the year.

But dismal market conditions continue to claim casualties, with Malaysian line MISC giving notice on Friday if its intention to quit the Asia-Europe trades and resign from the Grand Alliance at the end of the year.

MISC's alliance partners Hapag-Lloyd, NYK and OOCL said Monday that the withdrawal would not affect sailing frequencies, transit times or service structures.

"Nothing will change for our customers. They will continue to receive the customarily reliable service of the Grand Alliance partner lines in the future," the trio noted.

The fleet deployed by the Grand Alliance comprises about 140 vessels with capacities of between 2.900 and 9.000 teu. MISC has so far contributed seven.

"We will be replacing these ships in the context of our normal cascading," the Grand Alliance said in a joint statement.
 
Source : Lloyds 18/5/09
 

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