News
The combined volume of containerized shipments that major shipping lines moved in January among 13 countries and regions in Asia plunged 13.8% from a year earlier to 1.025 million TEUs, suffering the first year-on-year contraction in two months. Last-minute cargo demand did not grow as powerfully as expected before the Lunar New Year holidays, significantly decreasing both imports to and exports to major economies in the region. In breakdown, dry and reefer containers both incurred double-digit decreases, going down 13.9% to 961,600 TEUs and down 11.8% to 63,700 TEUs, respectively.
Exports from Japan plummeted 16.3% to 95,000 TEUs, while imports to Japan sank notably, too, going down 9.4% to 172,960 TEUs. Looking at the nation’s exports more precisely by destination, those to North China went down 18.6% to 13,600 TEUs; to Central China, down 31.7% to 9,800 TEUs; to Fujian Province, down 10.1% to 844 TEUs; to South China, down 4.1% to 7,716 TEUs and to Hong Kong, down 15% to 8,400 TEUs.
In contrast, containers from Japan to Taiwan, the Philippines, Cambodia and Vietnam were robust, which went up 3.2% to 15,600 TEUs, up 1.9% to 3,100 TEUs, up 6.2% to 300 TEUs and up 12.3% to 7,400 TEUs. On the other hand, those to other economies in Southeast Asia were weak. Exports to Thailand were down 6.1% to 10,700 TEUs; to Malaysia, down 21.1% to 5,000 TEUs; to Singapore, down 13.8% to 1,900 TEUs; to Indonesia, down 22.6% to 4,400 TEUs and to Myanmar, down 33.7% to 100 TEUs.
