|
The amount of containers from Chinese ports to the United States dropped by no less than 21% in June, according to a recent survey conducted by the Japan Maritime Centre. That constitutes the greatest drop since the Centre began conducting its surveys in 1995. Experts contribute the record-breaking drop to the ongoing U.S. economic woes which have seriously undermined the level of demand among American consumers.
"We're surprised at the size of the drop", a spokesperson from the Japan Maritime Centre told Bloomberg News last week, about the same time as the leading Swiss bank UBS lowered its investment recommendation for the container sector from neutral to negative. UBS predicts rising competition in prices as well as a growth decline in the demand for container shipping.
The Japan Maritime Centre usually collects its survey data from prominent Asian shipping players such as Hanjin Shipping, Evergreen Marine, Nippon Yusen and Maersk Line, all of whom are taking a bashing on the region's stock exchanges. A.P. Moeller-Maersk shares have also dropped 3% on the Copenhagen stock exchange.
Full story in Danish
News category: China
Published on this site: Sep. 5, 2008
Source:borsen.dk
|
