Carrier, Asian ports numbers tumbles

Carrier, Asian ports numbers tumbles    Carrier revenue from 11 top lines dropped 35 percent in the first quarter of 2009 compared with the same period in 2008, according to maritime information service AXS-Alphaliner.
   The 11 carriers for which revenue was compared account for about 45 percent of global deployed capacity, leading AXS to say this year has the signs of being 'the worst year in modern liner shipping history.'
   Lines in the report are Maersk (and subsidiary Safmarine), Hapag-Lloyd, APL, MOL, NYK Line, Hanjin Shipping, OOCL, 'K' Line, China Shipping, COSCO Container Lines and ZIM.
   Total revenue dropped from $22.4 billion in the first three months of 2008 to $14.45 billion this year.
   'Unlike previous market slumps, the fallout in the liner markets this time affected all trade lanes, with no regions being spared,' AXS said. 'Since volumes dropped across all markets, carriers are unable to shift capacity from one trade lane to another, as they used to do in the past.'
   The extent of the depression in container demand can also be seen in the continued poor throughput numbers of Asia's major ports. Singapore, the busiest port in the world, saw May volume decline 18.4 percent. Throughput at Shanghai, the second-busiest container port, fell 15.2 percent. Hong Kong and Shenzhen, third- and fourth-busiest, respectively, fell even further, by 19 percent and 20.9 percent.
   Container ports in Guangzhou, Ningbo and Xiamen, as well as the Taiwanese hub of Kaohsiung, all saw double-digit volume drops in May as well, AXS reported.
   These drops come as carriers have begun to increase capacity on key services, anticipating a boost in demand ahead of the fall and Christmas season, something that used to be called 'peak season.' Some carriers, shippers and analysts reasoned that there would be a spike in demand in spring of this year as inventory levels diminished and shippers need to replenish after holding off on order in fall and winter.
   But volume numbers from major ports and carriers suggest that hasn't happened to a great extent.