What's happening in Mediterranean & Africa?

 

Mediterranean & Africa
Trade Specialists
 

 

Herocean Line Co., Ltd

Localized global services
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Zline Shipping (Shanghai)
Co. Ltd

Think Container, Think "Z"Line
More....

 

ECU Guangzhou Limited
Qingdao Branch

It's not just LCL - it's our passion
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Qingdao Wintrust logistics
Co., Ltd

Eager to progress - we serve
costumers honestly and approved
by vast majority of customers
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Sino-Crown Transportation
Co., Ltd

Choose us, you choose the simple
work and reassurance.
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Worldex Logistics Qingdao
Co., Ltd.

Experts in complete logistics management solutions
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Choice Int'l Forwarding Co Ltd.

Your Best Choice to Africa
More...
.
 

Qingdao Aoduxin International
Transportation Co., Ltd.

We are the professional logistics
supplier you can depend on!
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China Shipping Logistics
(Shandong) Co., Ltd

We provide highly active and
good logistics service on the
premise of good quality service
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QingDao KaoYoung Int'l
Logistics CO., LTD.

The company commits itself to
provide you accuracy ship schedule,
reasonable price, and considerate
service.
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Parisi Grand Smooth
Logistics Ltd.

Over 200 years of shipping
expertise teamed with local
knowledge
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Awards Shipping Agency Ltd.

From humble beginnings to full
global air and seafreight logistics
service provider.
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Barloworld Logistics
(Hong Kong) Limited

An International provider of smart
supply chain management solutions.
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Qingdao Ruizhou International
Logistics Co., Ltd

Professional dangerous goods
transportation
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Highroad International Logistics

Professional door to door service
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Tianjin Yixun Int'l Freight
Forwarders Co., Ltd.

Private Cargo delivery; Agency of
DEL, STX, MOL, CMA, MSK, WHL
More....

 

Calpac Logistics Ltd.

Logistics for the real world
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Way-Way International
Logistics Co., Ltd

Prudent, Practical, Combatant and
Innovative
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USCL Logistics Ltd.

Providing the quickest & the most reliable services
More....
 

 

 


Trade profile: The Red Sea (An Overview)    More....

Weak Asia-Med volumes not enough to dampen Barcelona's spirit   More....

Volatility to persist for Asia-Europe and Med rates in 2013  More....

 

Bleak outlook for Asia-Med in 2013, but big ships may prove
key to optimism

 


IF you thought carriers on the Asia-Europe trade had it tough, spare a thought for those operating on the Asia-Mediterranean routes.

Not only are the Mediterranean economies experiencing the worst of the ongoing European debt crisis, but on the shipping side of things, freight rates have been in an almost perpetual state of decline.

Over the past three months there has been three spot rate increases on the Asia-Mediterranean trade lane, all of which remained in place for a very limited time¡Xthe record is two weeks.

Every other week on the trade has seen contraction after contraction, based on data from the Shanghai Containerised Freight Index (SCFI)¡K

Shipping lines operating between Asia and the Mediterranean attempted to start off the year strong with an increase heading into January, which brought the average spot rate up to US$1,158 per TEU from $1,104 per TEU in the final week of 2012.

The lines evidently felt confident to follow up with yet another increase the following week as the average rate rose to $1,356 per TEU.

One could have been forgiven for thinking it was going to be a good year ahead.

But then the declines began.

This would kick off six weeks of consecutive rate falls as shipping lines appeared to buckle under pressure from either their customers or due to fears over losing market share.

Rates fell below $1,000 per TEU for the first time in three months to just $960 per TEU in March.

A massive rate hike came into effect the following week ending March 15, bringing rates up a dramatic 42.3 per cent in a single week to $1,366 per TEU¡Xclearly an act of sheer desperation, with little market support to back it.

Without anything tangible to justify the increase, rates have since fallen for three straight weeks back to $1,073 per TEU.

To give some perspective on the current rate situation on the trade, this time last year the rate was $1,199 per TEU¡Xdown 10.5 per cent year on year. It must also be noted that the first quarter last year was a loss-making quarter for carriers on the trade.

And what of the outlook for trade itself? The macroeconomic situation throughout the region is nothing short of depressing, which lends credence to the belief that shipping demand will be limited.

The two countries within the European Union with the highest unemployment rates to date are both Mediterranean countries¡XGreece and Spain.

Both nations have unemployment rates in the upper 20-per cent range, while youth unemployment is nearing the 60 per cent mark.

Greece has already received financial bailouts, and Spain is now in danger of needing a bailout. Cyprus as well is another Mediterranean nation in need of a bailout.

France¡Xwhich can be included in the Mediterranean¡Xand Italy are economies that the European Commission has expressed concerns over due to their economic imbalances, Reuters reports.

Of course the Mediterranean does not consist only of southern European nations. Also included are the North African nations of Tunisia, Morocco, Libya and Egypt. For trade purposes Lebanon, Israel and Turkey are also included as part of the region.

Many of these nations are in the economic red zone too.

At the end of March thousands of protesters in Morocco gathered in the nation's capital of Rabat in response to the government's inability to stem rising unemployment and the high cost of living, reports All Africa.com.

In Tunisia the economy is struggling and unemployment remains around 17 per cent, while Egypt is in a similar situation, relying on aid money from Qatar as poverty, unemployment and inflation continue to rise in the country. It has also suffered from strikes that have blocked access to the port, which obviously spells bad news for trade.

The ongoing civil war in Syria has had obvious negative implications for the nation's economy and trade.

Forecasts for economic growth in Lebanon have recently been downgraded for 2013 and 2014, while Turkey and Israel appear to be the only two nations in the Mediterranean region that anyone has anything good to say about.

However, it must be noted that TurkeyIF you thought carriers on the Asia-Europe trade had it tough, spare a thought for those operating on the Asia-Mediterranean routes.

Not only are the Mediterranean economies experiencing the worst of the ongoing European debt crisis, but on the shipping side of things, freight rates have been in an almost perpetual state of decline.

Over the past three months there has been three spot rate increases on the Asia-Mediterranean trade lane, all of which remained in place for a very limited time¡Xthe record is two weeks.

Every other week on the trade has seen contraction after contraction, based on data from the Shanghai Containerised Freight Index (SCFI)¡K

 

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