Economic growth in Asia important to growth in global container market

“Economic growth across the Asia region, led by China, will play a significant role in the health of the container shipping markets in the foreseeable future,” said Eng Aik Meng, President of APL. According to industry sources, global container trades are stabilizing. Eng noted, “Economic activity in China has rebounded to levels not seen since the Lehman Brothers collapse which led to the global recession. The strength of China’s economy and the robust growth of the economies in southeast Asia will open up exciting new markets for container shipping operators.” He said that the container sector is faced with rising costs and the challenge of meeting service delivery expectations in an era of lengthening supply chains, however. He predicted growth in the intra-Asia trades and increased competition among container carriers. (March 1, 2011)