FEFC downgrades volumes
The Far Eastern Freight Conference has for the second time this year adjusted downwards its members’ volumes for 2008.
As a consequence of the changes, the FEFC lines’ westbound volumes for the five-month period to the end of May are now listed as 4.03 million TEUs, instead of the 4.05 million TEUs previously reported. The year-on-year westbound increase therefore declines to 9.9 percent instead of 10.4 percent as previously stated.
The eastbound volumes up to the end of April are now reported as being 1.17 million TEUs, compared to 1.19 million TEUs given earlier by the FEFC. The adjustment sees the eastbound volumes down by 3.2 percent year on year, instead of the 1.8 percent drop originally noted.