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Huge destocking of European inventories slowed box volumes 4pc
THE inventory cycle has been blamed for weak demand in Asia-Europe ocean continuing from last year into the first half of 2016, according to Maritime Strategies International senior analyst James Frew.
Mr Frew is now predicting that demand will rise by seven per cent in the second half, reported Lloyd's Loading List.
Speaking at the Container Supply Chain Conference at TOC Europe in Hamburg, Mr Frew was quoted as saying "huge destocking last year in European inventories went a long way to explaining why European container imports fell by four per cent last year despite a rise in Europe's gross domestic product and an increase in personal consumption.
"But obviously you can't keep destocking year on year as at some point you have to build back up. This is likely to start to happen in the second half of this year and therefore we are quite positive in this regards when it comes to the Asia-Europe trade in the second half of 2016," he said.
Mr Frew is now predicting that demand will rise by seven per cent in the second half, reported Lloyd's Loading List.
Speaking at the Container Supply Chain Conference at TOC Europe in Hamburg, Mr Frew was quoted as saying "huge destocking last year in European inventories went a long way to explaining why European container imports fell by four per cent last year despite a rise in Europe's gross domestic product and an increase in personal consumption.
"But obviously you can't keep destocking year on year as at some point you have to build back up. This is likely to start to happen in the second half of this year and therefore we are quite positive in this regards when it comes to the Asia-Europe trade in the second half of 2016," he said.
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