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IMO&EU NEWS

Euro debt crisis prompts severe contraction of Asian imports, says CTS
Euro debt crisis prompts severe contraction of Asian imports, says CTS


EUROPEAN imports are contracting faster than expected, according to Container Trades Statistics (CTS) figures revealing a more severe shrinkage than expected.Tuesday, 07.Feb.2012, 21:47 (GMT)

EUROPEAN imports are contracting faster than expected, according to Container Trades Statistics (CTS) figures revealing a more severe shrinkage than expected.

Fourth quarter European imports from Asia fell 9.2 per cent to 3,352,600 TEU from the third quarter. While contraction is seasonally normal, not to this extent, says CTS.

The final quarter took the westbound tradelane's cargo flow to 13,920,700 TEU, only a 3.3 per cent more than in 2010, much lower than MDS Transmodal's estimate of seven per cent.

"Although MDS Transmodal data seems to fly in the face of recent economic analysis, the consultant argues Europe is now buying more from China, replacing more expensive home production. In other words, European consumers are not buying that much more, only more of what they are buying is produced in Asia," said London's Containarisation International.

Transatlantic shipping showed better fourth quarter results for imports from North America, with an annual increase of 3.1 per cent, up to 2,865,600 TEU year on year.

Nonetheless, European exports increased 8.4 per cent to 3,369,100 TEU to North America year on year while exports to the Mideast and the Indian subcontinent were up 8.1 per cent to 2,941,700 TEU in 2011.

Read: 2637 Times- European, Crisis, Imports, -


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