Asia-Europe container decline bottoms out: ELAA

LATEST figures from the Brussels-based European Liner Affairs Association (ELAA) show a slowing of decline on Asia-Europe routes in August with China accounting for 72.3 per cent of the westbound volume.

Increased European exports balanced out slackening demand for Far Eastern cargo, but the two-way traffic was down 11 per cent to 1.08 million TEU million compared to last year's 1.22 million TEU.

August results compared to the first half revealed a 22 per cent drop since the beginning of the year with January volume at 461,019-TEU, which was better than the February's low point because of the seasonal downturn at Chinese New Year.

But August year-on-year volume from Asia to north Europe were the least affected, falling 10.4 per cent, followed by Asia-west Mediterranean/north Africa which slipped 8.6 per cent, with the steepest decline - 18.7 per cent - experienced on the Asia to east Med/Black Sea route.

European export volume was enhanced by an increase from the west Mediterranean with Spain's extraordinary 99 per cent year-on-year leap and Italy's 43 per cent hike. Overall, Europe-to-Asia movement was up 9.7 per cent to 470,000 TEU.

The ELAA report added that westbound transatlantic lanes were down 16 per cent to 237,252 TEU while eastbound volume fell 26 per cent to 209,633 TEU.

Source: www.schednet.com