Europe-Australia box trade still sliding

The ELAA said the number of containers shipped from Europe to Australia in May was down 27% compared with May 2008, dropping to 25,069 teu.

The southbound trade dropped to 25,420 teu in April, down 31% from a year earlier.

While the northbound trade was still growing in January, compared with 12 months earlier, it began to slump in February (down 16% to 15,257 teu) and has since recorded successive falls.

Figures from April (down 11% to 20,326 teu) and May (a 10% fall to 20,033 teu) meant exports made up 40% of Australia’s container trade with Europe.

It follows a 7% export decline and 15% import fall in the first three months of 2009.

Nevertheless, the ELAA container estimates, released this week, showed Australian trade was faring well compared with Europe’s other trading regions.

Eastbound trade from Europe to Asia in May grew 8% to 487,000 teu compared with the same month last year.

This comes on the back of marked declines in the first four months of 2009.

However box trade out of Asia to Europe continues to struggle, down 20% in May to 932,000 teu compared with May 2008.

The trade fell 22% in the first three months of 2009.

Overall, European imports on its seven major trades declined 20.6% in the first five months of 2009 when compared with the same period in 2008.

Exports for the five months to May 2009 are down 14% year-on-year.

ELAA said there were signs of recovery for imports from Asia, despite a “pronounced” fall in rates.

While exports are down, the percentage falls are not as marked.

North American exports to Europe fell 38% in May compared with the same month in 2008.

In the first three months of the year, the drop was 29%.