DynaLiners Daily – Intra-Asia volumes set to pick up?
In the nine-month period to the end of September, intra-Asian container trade reached 31.35 million TEU, down 1.9% year-on-year according to the latest figures available from Container Trade Statistics. The trade now represents around 75% of all intra-regional trades worldwide and this proportion could be set to increase in light of the recently agreed Regional Comprehensive Economic Partnership between fifteen Asian states. In essence, any regional trade deal that removes barriers should have a positive impact upon cross-border trade between the signatories.
Overall, Asia is set to be the growth area for container shipping in any case in light of the current make up of its constituent economies and the potential for rapid growth across both industry and consumer behaviour. As such, while there could well be a jump in certain trades (Japan-China) for example given the absence of any existing agreement, the overall impact of RCEP may be difficult to distinguish from existing trends.