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            october 14, 2019

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Busworld 2019

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Transpacific container volumes will grow in coming months


Transpacific container volumes will grow in coming months as economic indicators point to strong US demand, says Peter Sand, chief analyst at the shipowners Baltic International Maritime Council (BIMCO).
"Economic news from the US shows that the world's largest economy is getting better by the day, leaving the devastating first quarter GDP setback behind," he said, reports Lloyd's Loading List.
"For an economy mainly driven by consumer spending this is good news for shipping. We expect this to positively affect demand for transpacific container shipping, but also to increase US east coast imports.
"As containerised goods are predominantly consumer products, the improvement in the housing market also contributes to boosting confidence and shipping demand," he said.
Mr Sand said recent consumer confidence data for August suggested that solid economic growth, an improving housing market, and robust job creation figures were being converted into higher demand for retail products.
BIMCO figures revealed that US west coast imports increased four per cent in the first seven months of 2014 year on year while the US east coast improved 8.8 per cent during the first six months.

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