Asia Shipping : Third-Quarter Review and Outlook
Special Report
Abdul Razak Latif / Shutterstock . com
China businesses close for the first week of October to celebrate the country ’ s National Day on Oct . 1 in what is referred to as Golden Week . It also marks the traditional end of the Asia – Europe peak season , but historical patterns were tossed aside this year with the Red Sea attacks forcing longer transits around southern Africa .
A spokesperson for Hapag-Lloyd said the carrier was still sailing full , but it had taken capacity out of its China Germany Express ( CGX ) service “ to secure performance ,” adding that import demand prior to Golden Week has slowed .
Actual volumes from Asia to North Europe grew 5.5 % year over year in July , the latest month for which data is available , after rising 8.9 % in the first six months of 2024 , according to data from Container Trades Statistics ( CTS ). www . joc . com September 23 , 2024 | Journal of Commerce 21