News
Exports from Japan to China deceased 4.5% from a year earlier to 914,138 tons in July, according to a report on container traffic between the two Asian economies that the Japan Maritime Center (JMC) released recently. On a value scale, they plunged 13.7% to \568.6 billion, suffering a year-on-year contraction for the fifth consecutive month. Drewry Shipping Consultants Ltd. of the U.K. indicated that freight rates for containers from Yokohama to Shanghai were around US$340 per TEU earlier this year. They came back to reach $410 per TEU in July, after bottoming out in May.
The JMC report, which was compiled from trade statistics unveiled by the Ministry of Finance (MOF), said that imports from China to Japan, meanwhile, fell 2.5% to 1,819,801 tons in July, declining from a year earlier for two back-to-back months. They were weak in terms of value as well, plunging 20.5% to \967.2 billion, which was a year-on-year shrinkage incurred for four straight months. Freight rates for shipments from Shanghai to Yokohama remained unchanged at $590 per TEU.
