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But there is bad news

Container traffic in European ports is growing, but there is bad news.

The container turnover of eight of the ten largest container ports in Europe, which published their statistics for the first half of 2019, grew by an average of 8.1%, TASS reports. The three leaders of the European container transshipment market remained unchanged: Rotterdam, Antwerp and Hamburg. They increased the average turnover by 6.3%. At the same time, Mediterranean ports from the top 10 increased volumes on average by more than 11%. This growth was largely due to an increase in traffic through Piraeus by almost 24%. This fact confirms the thesis of experts that Chinese investments in European ports are changing freight traffic: cargo goes where China comes to. The container turnover of sea ports of the Russian Federation for 8 months of this year increased by 5.4%, according to Rosmorrechflot. The ports of the Baltic basin, which account for about half of the entire sea container flow of Russia, increased container transshipment by 6.6%. *** Simultaneously with the positive statistics on European container traffic, a bad signal came for the global container transport market: demand for intra-Asian routes slowed down, which, according to the BIMCO shipowners' association, warns of upcoming problems in the entire industry. BIMCO notes that the dynamics of demand on intra-Asian container shipping routes is an indicator of what will happen further on long-haul routes, since volumes here indicate the state of supply chains in the region and, therefore, what finished goods Asia will export in the near future. Thus, based on the fact that the demand for intra-Asian transportation in the first 7 months of the year grew by only 0.8%, the association predicts a slowdown in demand in the global market later this year. The BIMCO warning is fully consistent with expectations in the world community of the development of global crisis trends, fueled by an additional US-Chinese trade war. GDP growth is declining in almost all regions of the world, which inevitably has a negative effect on world trade.

Source: Russian Railways Partner, tks.ru


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