CONTAINERSHIP congestion off German ports at the north Sea has worsened, affecting the European Union's trade with Asia, according to the German Kiel Institute for the World Economy (IfW Kiel), reports Xinhua.
Thus, cargo volumes in the Red Sea, the main trade route between the EU and Asia, were currently 21 per cent lower 'than would be expected under normal circumstances', IfW Kiel said. 'The gap is largely due to failing cargo from Europe to Asia.'
Two dozen containerships were waiting for clearance at the ports of Hamburg or Bremerhaven for up to three weeks now, according to IfW Kiel.
'Currently, the high dwell time of containers in particular is slowing down handling operations,' said HHLA, a terminal operator at Hamburg's port. The situation would be improved with various measures, such as the leasing of additional space for container storage.
Global trade decreased 1.7 per cent in July compared with the previous month, according to IfW Kiel. Exports and imports in the EU both declined by 2.1 per cent.
'There is no threat of a crash in trade, but a trend reversal to the upside and a normalisation of supply processes are not likely to occur any time soon either,' said Vincent Stamer, head of the Kiel Trade Indicator.
SeaNews Turkey
Thus, cargo volumes in the Red Sea, the main trade route between the EU and Asia, were currently 21 per cent lower 'than would be expected under normal circumstances', IfW Kiel said. 'The gap is largely due to failing cargo from Europe to Asia.'
Two dozen containerships were waiting for clearance at the ports of Hamburg or Bremerhaven for up to three weeks now, according to IfW Kiel.
'Currently, the high dwell time of containers in particular is slowing down handling operations,' said HHLA, a terminal operator at Hamburg's port. The situation would be improved with various measures, such as the leasing of additional space for container storage.
Global trade decreased 1.7 per cent in July compared with the previous month, according to IfW Kiel. Exports and imports in the EU both declined by 2.1 per cent.
'There is no threat of a crash in trade, but a trend reversal to the upside and a normalisation of supply processes are not likely to occur any time soon either,' said Vincent Stamer, head of the Kiel Trade Indicator.
SeaNews Turkey
