CONTAINERISED exports from the Indian subcontinent and the Middle East to leading trade partner Far East Asia fell 20.8 per cent in May 2013 to 177,900 TEU, compared to the same month a year earlier, marking the biggest decline recorded in all regions worldwide.
Indian subcontinent-Mideast exports grow but Asia volumes fall 20.8pc CONTAINERISED exports from the Indian subcontinent and the Middle East to leading trade partner Far East Asia fell 20.8 per cent in May 2013 to 177,900 TEU, compared to the same month a year earlier, marking the biggest decline recorded in all regions worldwide.
In the first five months of the year, total exports in this trade lane have plummeted 24.4 per cent year on year to 975,400 TEU. Freight rates in this market declined two points to 105 in May, reports Container Trades Statistics (CTS).
The result shows the gap has narrowed between the region's top trading partner and the number two spot, with exports from the Indian subcontinent and the Middle East to Europe up 3.7 per cent in May to 176,800 TEU. From January to May exports rose 4.7 per cent year on year to 914,700 TEU. The CTS index of rates in this trade lane dropped four points to 81 in May.
The trade lane that recorded the highest growth in containerised exports in May was from the Indian subcontinent and the Middle East to sub-Saharan Africa, with volume up 10.3 per cent against the same month a year earlier to 75,800 TEU. Year-to-date, exports in this trade rose three per cent year on year to 372,100 TEU. The CTS rate index slid four points to 79.
Containerised trade from the Indian sub-continent and the Middle East to Australasia/Oceania was up by 10 per cent in May to 6,700 TEU. January-May exports increased by 7.4 per cent year on year to 34,700 TEU. The CTS index for this trade lane fell 11 points to 106 in May.
Containerised trade from the Indian subcontinent and the Middle East to North America in May increased by 5.5 per cent over May 2012 to total 85,000 TEU. During the first five months of the year, exports in this trade lane increased 3.2 per cent to 410,100 TEU. The CTS price index slipped from 108 in April to 107 in May.
The Indian subcontinent and the Middle East exported 23,900 TEU to South and Central America in May, an increase of 7.2 per cent year on year. From January-May exports in this trade lane rose eight per cent over the same period last year to 116,000 TEU. Rates dropped by three points to 84 in May.
