Box rates from Asia top 2008 levels
ELAA figures show European trade lanes gradually recovering
Container rates on services from Asia to Europe surpassed the average 2008 level for the first time in January, according to data from the European Liner Affairs Association (ELAA).
The ELAA figures show that rates on the trade in January were around 4% higher than the 2008 average, the only European trade lane to achieve this.
Both eastbound and westbound volumes on the trade experienced double-digit year-on-year growth in January.
Westbound volumes totalled 1.1m teu, 10.5% up on January 2009, while eastbound volumes, at 419,000teu, were up 35% on last year.
Other trade lanes also reported growth, but the ELAA pointed out that volumes had been particularly low in January 2009.
The association said: “All trades registered significant growth on January 2009, when volumes were hitting their lowest point in the recession – except on Europe to Oceania.
“Moreover, Asia to Europe’s January was 2% higher than westbound December 2009, which was the highest recorded monthly figure for 2009.
“The eastern Mediterranean and Black Sea to Asia, recorded a 98% year-on-year increase.
“For the Indian subcontinent and Middle East-Europe trade, the eastbound January 2010 figures were 20% lower than in December 2009, the peak month of the year. Westbound, the decline was more marginal, at 4% down.”
Volumes on services from Europe to North America were up 4% at 208,000teu, while on services from North America, volumes increased by 7% to 208,000teu.
The ELAA figures show that rates on the trade in January were around 4% higher than the 2008 average, the only European trade lane to achieve this.
Both eastbound and westbound volumes on the trade experienced double-digit year-on-year growth in January.
Westbound volumes totalled 1.1m teu, 10.5% up on January 2009, while eastbound volumes, at 419,000teu, were up 35% on last year.
Other trade lanes also reported growth, but the ELAA pointed out that volumes had been particularly low in January 2009.
The association said: “All trades registered significant growth on January 2009, when volumes were hitting their lowest point in the recession – except on Europe to Oceania.
“Moreover, Asia to Europe’s January was 2% higher than westbound December 2009, which was the highest recorded monthly figure for 2009.
“The eastern Mediterranean and Black Sea to Asia, recorded a 98% year-on-year increase.
“For the Indian subcontinent and Middle East-Europe trade, the eastbound January 2010 figures were 20% lower than in December 2009, the peak month of the year. Westbound, the decline was more marginal, at 4% down.”
Volumes on services from Europe to North America were up 4% at 208,000teu, while on services from North America, volumes increased by 7% to 208,000teu.
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