Asia-Europe container rates ended 2010 below the average level recorded in 2008, despite volumes continuing to increase.
Asia-Europe container rates ended 2010 below the average level recorded in 2008, despite volumes continuing to increase.
According to the latest figures from Container Trade Statistics, exports from Asia to Europe ended last year 17.6% above 2009 levels, while exports from Europe to Asia increased by 1.4%.
In total, carriers moved 13.5 million teu into Europe from Asia last year, compared with 11.5 million teu during recession-hit 2009.
Reports suggest the 13.5 million teu figure was also marginally ahead of the volumes recorded in the pre-recession year of 2008.
Broken down by individual quarters, imports into Europe from Asia surged year on year by 21% in the first quarter, by 24% in the second, by 15% in the third and by 11.6% in Q4.
While volumes ended the year ahead of the 2008 level, rates on Asia to Europe services dipped 2% below the 2008 quarterly average in December. But for the majority of the year, prices were well ahead of the 2008 level, with double-digit growth in every month until October.
Prices on exports from Europe to Asia also spent the majority of 2010 ahead of the quarterly average for 2008, but dipped 4% lower in December.
On exports from Europe to North America, volumes increased 12.2% compared with 2009, hitting 3.1 million teu, and imports into Europe from North America jumped 9.4% over 2009 to 2.7 million teu.
Rates on exports from Europe to North America spent the entire year below the 2008 quarterly level, ending the year 13% down.
On imports to Europe from North America prices went above the 2008 quarterly level and stayed there for the whole year, with prices in December ending up 7% up on 2008.
Exports from Europe to the Indian Sub-continent and the Middle East ended the year 7.5% up on 2009, while imports were 16.5% up.
