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Drewry launched a new online Intra-Asia Container Market Insight service on Tuesday.
The service covers six subregions-Greater China, North Asia, South Asia, Southeast Asia, the Middle East and Oceania. Analyses can be made individually on the trades among the subregions. At present, it does not oversee intra-China, intra-North Asia or intra-subregion container shipping. Information is provided on freight rates, supply and demand, carriers' market shares, capacity and fleet development strategies, container liftings, productivity, congestion and so on.
The new online Intra-Asia Container Market Insight service confirms that growth in the intra-Asia container shipping market, which over the last five years registered a compound average growth rate of 3.6%, far outpacing growth in global shipping trades, which just expanded 0.7% over the same period.
Total intra-Asia containerized trade volume amounted to 52 million TEUs in 2023 , becoming the powerhouse of the global container market. Industry forecasts predict sustained growth in trade between major economies, such as China, Japan, South Korea and ASEAN nations driven by closer economic integration, rising consumer demand and robust manufacturing activity across the region.
As container shipping growth moves from intercontinental to intra-regional trades, industry stakeholders require new knowledge services that help bolster their intra-Asian shipping activities and supply chains," said Subrata K. Behera, deputy director, ports and container research of Drewry. "This new service delivers unique insights, enabling regional logistics teams to monitor the market, make more precise budget forecasts and access near-real-time updates on trade and potential disruptions.
