Mark Szakonyi, Associate Editor | Mar 14, 2012 11:54AM EDT
European austerity measures in January pulled containerized imports down 5.2 percent year-over-year, the steepest decline since 2009, according to published reports.
European exports rose 11.6 percent year-over-year in the same period, according to Container Trade Statistics (subscription required). Weak demand on the Asia-Europe route, coupled with overcapacity, pushed spot rates down 1.3 percent, according to the World Container Index.
“The austerity programs being implemented by governments are more prevalent in Northern Europe and West Mediterranean, the regions where volumes are down the most,” CTS CEO Rod Riseborough told Bloomberg.
Total container trade shrank 0.74 percent in January compared to the same period a year ago.
Contact Mark Szakonyi at mszakonyi@joc.com. Follow him on Twitter @szakonyi_joc.