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August 28 2023

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August 28, 2023 | Journal of Commerce 17 www.joc.com Special Report Container Shipping Quarterly schedules ... capacity is available to accept customer volumes as needed," the carrier noted in its latest market update. Because of the slowdown in demand, Maersk has extended routes out of Asia, the westbound trade is in what Maersk describes as a "traditional lull season." "Trans-Atlantic services into the East Coast are running near proforma contrast, Asia–North Europe volume grew just 3.1% to 915,284 TEUs for the month. According to Sea-Intelligence Maritime Analysis, European imports "have clearly rebounded" after a year- long depression. "June marks the fourth consecu- tive month of growth into the conti- nent and saw a year-over-year growth of 3.9%," the analyst noted in its Aug. 6 Sunday Spotlight newsletter, adding that total growth in imports to North "Capacity is available to accept customer volumes as needed." Trans-Atlantic spot rates tumble through 2023 Container spot rates from North Europe to the US East Coast, in USD per FEU USD per FEU $1,000 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 L Apr Oct Jan 2022 Apr Jul Oct Jan 2023 Jul North Europe to US East Coast 00 00 00 Oct 14, 2021: $5,851.6 Oct 14, 2021: $5 Y-o-Y change: 396.7% Y chan Con Oct, 2021 Oct $646 1,000 Source: Xeneta © 2023 S&P Global Club Med Robust Mediterranean demand continues to outpace Asia–North Europe growth By Greg Knowler CONTAINERIZED TRADE BETWEEN Asia and the Mediterranean surged for the third straight month on a year- over-year basis in June, with demand growth far outstripping that recorded on the Asia–North Europe routes. The latest data from Container Trades Statistics (CTS) show volume shipped from Asia to the East Medi- terranean and Black Sea jumped 39% year over year to 297,000 TEUs in June, while Asia–West Mediterranean volume rose 21% to 279,908 TEUs. By booking windows from the normal three weeks to five weeks to accom- modate the European holiday period and to give cargo owners more time to plan shipments. Falling demand for some of the larger-volume categories such as raw materials, chemicals and capital equipment was also playing a role in the weakening trade lane, DSV COO Jens Lund told the Journal of Com- merce in an interview late July. "There's no doubt," he said. "Some of the imports used to pro- duce capital goods have come down, and that is having an impact." JOC email: greg.knowler@spglobal.com Asia–East Med volumes jumped 39% in June, while shipments to West Med ports like Barcelona (pictured) rose 21%. Shutterstock.com

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