FAR EAST - Dip in freight rates is merely a ‘blip’
published: cw 16, 2005 in Emerging markets & outsourcingAresurgent world economy fuelling demand for goods made in the Far East has underpinned the boom in container shipping in the last three years. And for the manufacture of many consumer products, the Far East is becoming synonymous with one country: China.
Volumes on the main eastwest trades from Asia to North America and from Asia to northern Europe increased by 14.3% and 16.5% respectively last year, according to Drewry Shipping Consultants. It predicts growth will continue in double-digit figures this year and next.
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