ASIA-Europe container volumes grew 4.07 per cent year on year to 3.7 million TEU for the third quarter, the lowest growth for any quarter this year, according to the latest data from Container Trade Statistics (CTS).
While trade volumes continued to grow in the third quarter, September marked the second worst month of the year in terms of growth, with just 0.20 per cent. The worst month of the year to date was February, which saw volumes contract by 10.25 per cent.
In terms of freight rates, the story is well known. Asia-Europe rates plummeted during the quarter, despite it being the so-called peak season. Rates at the beginning of the third quarter stood at US$821 per TEU and fell 10.59 per cent to $734 per TEU by the end of September.
While trade volumes continued to grow in the third quarter, September marked the second worst month of the year in terms of growth, with just 0.20 per cent. The worst month of the year to date was February, which saw volumes contract by 10.25 per cent.
In terms of freight rates, the story is well known. Asia-Europe rates plummeted during the quarter, despite it being the so-called peak season. Rates at the beginning of the third quarter stood at US$821 per TEU and fell 10.59 per cent to $734 per TEU by the end of September.
The latest Shanghai Containerised Freight Index (SCFI) for the Asia-Europe trade reveals that rates are continuing to fall in the fourth quarter and are now at just $573 per TEU, a full 30.2 per cent down from the beginning of the second half.
While current rate information is not available for the reverse leg of the trade, the latest CTS report reveals that Europe-Asia rates fell in the third quarter. Based on the group’s latest aggregated price index for the trade the trade saw a decline of two points to an index rate of just 77 points.
Even as rates dropped on the trade volumes grew an impressive 9.82 per cent for the quarter to 1.52 million TEU, the best growth quarter for the year. This was bolstered by strong August and September growth of 11.48 and 10.97 per cent.
On the transatlantic trade North American exports to Europe grew just 2.49 per cent year on year to 690,900 TEU after a weak September where volumes declined by 2.12 per cent in comparison to the same month last year.
The 221,800 TEU carried on the trade for September marks the weakest month for the entire year, with February being second worst at 228,200 TEU.
Rates for the quarter remained flat and based on the index standing of 109 points, rates appear to be at relatively healthy levels in spite of the weaker growth.
While current rate information is not available for the reverse leg of the trade, the latest CTS report reveals that Europe-Asia rates fell in the third quarter. Based on the group’s latest aggregated price index for the trade the trade saw a decline of two points to an index rate of just 77 points.
Even as rates dropped on the trade volumes grew an impressive 9.82 per cent for the quarter to 1.52 million TEU, the best growth quarter for the year. This was bolstered by strong August and September growth of 11.48 and 10.97 per cent.
On the transatlantic trade North American exports to Europe grew just 2.49 per cent year on year to 690,900 TEU after a weak September where volumes declined by 2.12 per cent in comparison to the same month last year.
The 221,800 TEU carried on the trade for September marks the weakest month for the entire year, with February being second worst at 228,200 TEU.
Rates for the quarter remained flat and based on the index standing of 109 points, rates appear to be at relatively healthy levels in spite of the weaker growth.
Source : CSM, 14.11.11.
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