THE transpacific trade which has enjoyed healthy levels of volume growth in past months is now showing signs of slowing down.
The latest figures published by Container Trades Statistics show that box numbers on the trade were up 4.1 per cent to 1.5 million TEU over last year, representing the lowest level of comparative growth on routes from Asia to North America since April, according to Lloyd's Loading List.
The slowdown in transpacific trade ties in with statistics from the US Commerce Department at the end of October, which showed that growth in US gross domestic product braked sharply during the third quarter compared with the previous three months, from 3.9 per cent to 1.5 per cent.
Year-to-date volumes nevertheless remain strong at 12.1 million TEU, representing a 3.9 per cent rise over last year, and Maersk Line chief executive Soren Skou also highlighted the US as one of the bright spots in the world, with poor demand conditions elsewhere likely to persist.
The split of transpacific traffic between the respective Pacific and Atlantic seaboards in September, meanwhile, swung further in favour of the former - helped largely by a surge in traffic to ports located in Canada's Pacific Northwest, where traffic to the region continues to grow exponentially by some 31.8 per cent over last year.
Despite a 3.6 per cent drop in volumes to the US west coast from Asia in September, Pacific ports still managed to increase their share of transpacific traffic to 65.5 per cent, but the figures suggest that the trend of cargo entering the US via Canadian ports, particularly Prince Rupert which reported a 30.1 per cent upswing in traffic through to the end of July, is on the up.
The share of transpacific traffic to the US east and Gulf coasts dropped in September, as a result of Canada's gains, to around 28.6 per cent, according to CTS data.
WORLD SHIPPING
13 November 2015 - 22:47
Transpacific box volume growth slows down but Canada's northwest ports gaining ground
THE transpacific trade which has enjoyed healthy levels of volume growth in past months is now showing signs of slowing down.
WORLD SHIPPING
13 November 2015 - 22:47
Transpacific box volume growth slows down but Canada's northwest ports gaining ground
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