South Asia, where India is the principle player in international trade has
emerged as a top container growth market in the world this year according to
International Monetary fund report. The report also indicated a steady growth
in container volume in carriers handling cargo on the Asia Europe trade route.
Long-term contract rates on the
Asia-Europe container trade have been significantly looking up, according to
analysts studying data, with the figures nearly 70 per cent higher compared to
They have attributed this to the improving global economy, with the
International Monetary Fund, in its World Economic Outlook, pointing out that
the global economy is showing signs of solid and steady growth, with China,
India, Japan and major economies in Europe being the driving forces.
As a result, carriers on the Asia-Europe trade are heading for a vastly
improved year because of the steady growth in container volume.
It is important to note that South Asia to Europe is considered a top
container growth market.
As per available data, the average market rate for sailings in this route
in August is just over 1,550 US Dollars per TEU. Some rates, however, have also
been agreed at much higher levels, report said.
The rest of the year, too, looks bright as a strong peak season is
expected, analysts said.