Saturday, August 8, 2009

China freight and transport trade indicators improving

Container traffic shows a rise at last
Shipping News Feature

SHANGHAI - The China Containerised Freight Index, movement figures compiled and published weekly by the Shanghai Shipping Exchange from statistics taken from all major freight and transport groups with interests in the region, has shown it’s third week of increased trade in the sector.

The index, which has indicated a steady descent of cargo volumes since early 2008 finally bottomed out at the very beginning of July. Using a points system it plummeted from around 1150 to 750 in just a few months but the latest figures show a rise to around 825. This represents a 5.3% increase in one week.

The CCFI figures follow a similarly upbeat report by the CLSA purchasing managers index this week showing Chinese manufacturing and export levels rising and improved throughput in the country’s ports.

The increase is taken as a hopeful sign of a general recovery although some few industry analysts are putting forward the “eye of the hurricane” theory saying the sector still faces more strife.

 Logistics experts world wide all seem to be extremely reluctant to take a definite position as to the immediate future of world trade. Nevertheless the new Asian figures are being taken a hopeful sign that a levelling out, or even an overall increase in global freight traffic is likely.