FEFC eastbound volume up 4.8% in 2007 despite 4th quarter dip

FEFC eastbound volume up 4.8% in 2007 despite 4th quarter dip A fourth quarter decline in Europe to Asia container volumes dampened Far Eastern Freight Conference ocean carriers' annual eastbound growth.
   For the full year 2007, the FEFC’s eastbound volume rose 4.8 percent to 3.35 million TEUs, up from 3.2 million TEUs in 2006. On a regional basis, box traffic from North Europe to the Far East in 2007 increased 4.3 percent to 2.7 million TEUs, while Mediterranean to Asia cargoes increased 6.8 percent to 649,632 TEUs.
   The FEFC’s eastbound volume in the fourth quarter slipped 4 percent year on year after gains of 6.1 percent in the third quarter, 8.5 percent in the second quarter, and 9.6 percent in the first quarter.
   The conference previously reported a 19 percent gain in the head-haul westbound trade for 2007 to 9.5 million TEUs.
   The 17 carriers of the FEFC are estimated to control up to three quarters of the available Asia/Europe and Med vessel capacity. They are: ANL Container Lines, APL, CMA CGM, CSAV Norasia, Egyptian International Shipping Co., Hapag-Lloyd, Hyundai Merchant Marine, “K” Line, Maersk Line, Mediterranean Shipping Co., MISC Berhad, MOL, NYK, OOCL, Safmarine, Yang Ming and Zim Integrated Shipping Services Ltd. (joined in January 2008 and therefore not included in the latest figures).