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Indiaexportnews.com

Strong global trade flows – weaker in Europe

  27.04.2012    

Global trade flows through the Port of Gothenburg continue to increase whereas trade in Europe is falling. This was revealed in the Port of Gothenburg quarterly report published today. 
Over 90 per cent of Swedish imports and exports are transported by sea and one-third passes through the Port of Gothenburg.
Magnus Kårestedt, Port of Gothenburg Chief Executive says: "With such a large proportion of Swedish trade passing through our Port, we quickly notice any shifts in the economy."
The trend that commenced in autumn 2011 is continuing: exports and imports to and from other continents continue to grow whereas trade in Europe is considerably weaker.
During the first quarter of this year, 233,000 TEU were shipped via the Port of Gothenburg, an increase of one per cent on the first quarter of 2011, which was a very strong quarter. This is a new quarterly record for container movements through the port.
Export containers largely carry industrial components, timber products, paper and steel and import containers carry everything we consume in Sweden, such as clothes, food and electronics.

Rail traffic firmly on track
The most noticeable trend during the first quarter was in rail transport to and from the port, up 11 per cent on the corresponding period last year. One rail link that is doing particularly well is the newly started shuttle to Sundsvall, which is the most northerly rail shuttle destination in the Railport Scandinavia network.

Fall in traffic in Europe
The Port of Gothenburg has a number of roro-services to the United Kingdom, Germany, Denmark and Belgium with daily departures.  At 139,000 units, volumes were down five per cent during the first quarter compared to Q1 2011.
Magnus Kårestedt continues: "The financial situation in Europe is reflected clearly in trade flows. UK traffic has been hit hardest whilst Belgium is faring slightly better."
Cars and oil also report a negative trend during the first quarter, down 29 per cent and five per cent respectively. The fall in oil volumes can be attributed largely to the current high oil prices and the fact that the market does not anticipate any further rises, resulting in a fall in the storage of oil (known as backwardation).

Three new services
The Port of Gothenburg has in a short space of time acquired three new services. Swedish industry can now benefit from the new deep sea service to China through the G6 shipping alliance, MacAndrews' newly started container service to the UK and North Sea RoRo's service to Killingholme in the UK.


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