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THE
concentration of growth on intra-Asian trade
lanes, compared to the mainlane east west
routes in recent years, has led shipping
lines to increase intra-Asian capacity,
with Chinese companies playing a leading
role, says Clarkson, the London shipbroker.
China
has shown itself to be a major if not the
leading player in this trend, with its container
exports to the US and Europe having only
posted one per cent annual growth since
2008 against its trade with ASEAN economies,
which has increased 10 per cent over the
same period.
One
reason has been the rapid economic development
in many Asian countries and another is the
more numerous locations of manufacturing
which have developed in recent years, said
Clarkson analysts.
In
2012, intra-Asian trade increased seven
per cent year on year to 42 million TEU,
up 32 per cent compared to 2007 volumes.
In comparison, east-west trades have yet
to recover with volumes in 2012 still down
0.4 per cent compared to those in 2007.
"By
the end of November 2013, almost 1.4 million
TEU of nominal containership capacity was
deployed on intra-Asian trades, nearly double
that deployed at end 2007," said the
Clarkson report.
During
this time, Chinese capacity deployed on
intra-Asian trades has also risen. Chinese
operators deployed capacity of 350,000 TEU,
up from 100,000 TEU at the end of 2007,
increasing its share from 15 per cent at
the end of 2007 to 25 per cent by December
this year, Clarkson analysts said.
Over
the last seven years, Chinese liner capacity
has doubled, and a growing proportion has
been deployed on intra-Asian trades. By
the end of 2012, 23 per cent of Chinese
operated capacity was intra-Asian against
11 per cent in 2007.
"For
example, intra-Asian capacity deployed by
Qingdao-based SITC has risen from 45 ships
of 41,500 TEU a year ago to 54 ships of
54,000 TEU at the end of November, or 80
per cent of its deployed capacity,"
said the report.
Cosco
and China Shipping have also increased intra-Asian
deployment, the analysts noted. The two
companies account for 57 per cent of Chinese
intra-Asian capacity, and appear to transport
ship most of China's domestic container
trade, a significant part of intra-Asian
trade. At the start of 2013, more than 13
per cent, or 170,000 million TEU of their
total was intra-Asian trades, up from five
per cent in 2007.
"The
increasing trade between Asian economies
and continued growth in Chinese demand for
consumer goods mean that prospects for further
growth in intra-Asian trade remain positive.
Given the positive dynamics in the region,
intra-Asian trades are likely to continue
to play a key role in global deployment
trends," said the Clarkson report.
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