Europe's economic crisis dampens global shipping volumes in second quarter

GLOBAL shipping volumes fell in the second quarter of the year as Europe's economic difficulties continued to act as a burden on demand, according to the latest report from Container Trade Statistics (CTS).

The data shows that exports from Europe (in terms of TEU) grew three per cent in the second quarter of 2012, a marked slowdown from the revised first quarter figure of 9.7 per cent, while imports to Europe fell 5.3 per cent in the second quarter.

Asia's weaker economic performance in the second quarter (compared with a stronger first quarter) is reflected in the figures. Initial data shows imports to the region fell 4.2 per cent in the second quarter, compared with growth of 5.8 per cent in the first quarter. Meanwhile export volumes increased just 2.8 per cent, according to Transport Intelligence.

Container exports from North America decreased 6.5 per cent in the second quarter, while exports in the first quarter of the year were almost flat at minus -0.6 per cent. However, import figures indicate a much more positive picture, up 9.9 per cent in the second quarter, compared with growth of 3.7 per cent in the first quarter.

Negative export growth was reported in South America, the Middle East and Africa. In terms of imports, growth rates slowed considerably, however, they remained in positive territory. As the global economic recovery remains weak and uncertain, it seems the second half of the year is likely to remain tough for shippers.