rss icon Subscribe
desktop mobile

Indian Container Trade Grows 6%: Maersk

Photo provided by A.P. Moller Maersk.

Laxman Pai

India's containerised trade grew 6 per cent during the last quarter of 2018, with the western region outperforming the other three regions in Q4 trade.

A report released by the world's largest container shipping company Maersk has attributed the growth in trade to increased demand for refrigerated cargo from India coupled with improved trade relations with China.

The demand for India-made goods such as vehicles, cereals and rice; supplemented by refrigerated cargo such as fish, seafood, vegetables and pharmaceuticals saw maximum growth in exports.

While imports have maintained a stable growth of 9%, largely driven by substantial inflow of metals and paper. Overall, the containerized trade has witnessed stable growth withstanding the fluctuations of global trade tensions.

Commenting on the overall growth in containerised trade, Steve Felder, Managing Director - Maersk South Asia said, "We witnessed a stable trade environment in the last quarter of 2018, due to base effects, weakening demand of goods in China, overall contraction in manufacturing around the world and the global trade tensions between major economies. But the stable growth in trade indicates that the economy has been able to sail through some of these challenges, including the impact of regulatory reforms such as demonetisation and implementation of GST."

"We are witnessing an array of developments in the industry with regard to digitisation, consolidation and infrastructure upgrades which will support in propelling India as one of the top trading destinations in the world," he added.

Export growth from India was led by refrigerated cargo and agro-commodities, especially vegetables, seafood, fruits, nuts, cereals and rice exported to countries like China, UAE, USA, The Netherlands and smaller nations like Algeria. Dry cargo exports remained flat this quarter, barring vehicles, which saw double digit growth in volumes.

As a consequence of favourable trade policies, China became one of the key export markets for refrigerated cargo. It also became one of the highest contributors to the country's export basket in Q4 with a 71% Y-o-Y increase. Import growth was led by dry cargo, metals followed by paper and appliances and kitchenware drove the volume growth.

Mar 7, 2019

 

Container Ships

Hapag-Lloyd Shareholders Change Stake

Graphics: Hapag-Lloyd AG

German-based international cargo container shipping line Hapag-Lloyd AG announced an increased

CMA CGM Breaks Tampa Port Vessel Record

Port Tampa Bay welcomed its largest container ship ever, the CMA-CGM DALILA. Photo: Port Tampa Bay

Florida's largest port,  Port Tampa Bay has marking a major milestone and partnership with CMA CGM

Bristol Port Upgrades Box Terminal

Port of Bristol, which comprises the commercial, and former commercial, docks situated in and near the city of Bristol in England, announced that its container terminal capacity

Logistics

U.S. Refiner Phillips 66 Enters Offshore Oil Export Race

 © Lukasz Z/ Adobe Stock

U.S. oil refiner Phillips 66 is proposing a deepwater crude export terminal off the U.S.

Russia's Novatek Ships First LNG Cargo to Spain from Vysotsk

Russia's largest non-state gas producer Novatek has delivered a first liquefied natural gas (LNG) cargo to Spain from its Vysotsk plant, according to Refinitiv Eikon data.

Concern Over Trade Wars Impacts Shipping Confidence

Richard Greiner (Photo: BDO)

Confidence in the shipping industry has fallen marginally over the past three months

Maritime Apps