Major trade lanes out of Europe remain weak

Major trade lanes out of Europe remain weak    Freight volumes on the major trades in and out of Europe have only recovered slightly from their nadir this spring, and remain off last year’s pace, according to figures released by the European Liner Affairs Association this week.
   ELAA said westbound volumes on the Asia-to-Europe trade, the world’s largest, totaled 997,715 TEUs in July, 17 percent less than in July 2008. In the first and second quarter volumes were both off 22 percent. Rates in June, the last month available, were half the 2008 average.
   Eastbound volumes back to Asia were 490,214 TEUs in July, about the same as July 2008. That’s better than in the first and second quarters when volumes were off 16 percent and 2 percent respectively. Rates in June were 69 percent of their 2008 average.
   In the Europe/North America trade, westbound volumes were 254,061 TEUs in July, 17 percent less than in July 2008. On the same lane, volumes were off 17 percent in the first quarter and 22 percent in the second quarter. Westbound freight rates in June were 67 percent of the 2008 average.
   Eastbound transatlantic volumes were 211,814 TEUs in July, which is 28 percent less than in July 2008. Volumes were off 29 percent in the first quarter and 35 percent in the second quarter. Though volumes were off more sharply, freight rates held up better, at 75 percent of the 2008 average.