The year long decline in container traffic on the key Asia-Europe trade slowed in August as rising European exports partially compensated for lower shipments from the Far East.
The year long decline in container traffic on the key Asia-Europe trade slowed in August as rising European exports partially compensated for lower shipments from the Far East. Two-way traffic fell 11 percent in August to 1.08 million TEUs from 1.22 million 20-foot equivalent units a year ago, according to the latest figures from the European Liner Affairs Association.
The August decline marks a ?significant? improvement over the first half drop of 22 percent, the Brussels-based ELAA said.
August traffic was higher than January shipments and was 461,019 TEUs above the low point in February which was affected by the Chinese New Year holidays.
There were significant variations between trade routes, with Asia-North Europe shipments down 10.4 per cent from August 2008 while Asia-West Mediterranean/North Africa volume was 8.6 percent lower. Shipments on the Asia- East Med/Black Sea trade slumped 18.7 percent.
China continued to dominate the westbound trade, accounting for 72.3 percent of Asian shipments to Europe in August.
European exports to Asia gained 9.7 percent in August from a year ago, to nearly 470,000 TEUs, led by a 14.1 percent rise in Asian imports from the Western Mediterranean that was driven by a 43 percent jump in shipments from Italy and a 99 percent surge in Spanish exports.
The trans-Atlantic trade was mired in recession with westbound shipments plunging 16 percent year over year in August to 237,252 TEUs while eastbound volume crashed 26 percent to 209,633 TEUs.