The latest data from the European Liner Affairs’ Association (ELAA) has shown that imports into Europe during January-March 2010 increased by almost 17 per cent when compared to the same period of 2009 to touch 5 million TEUs,  Exim News Service informs. Exports increased by 17.5 per cent year-on-year to reach 3.6 million TEUs.
The growth was largely fuelled by increases in Asia-Europe volumes, with imports from Asia increasing by 20 per cent year-on-year to 3.1 million TEUs.

Asia’s exports increased by 21 per cent also to hit 3.1 million TEUs.

European exports to North America were up by almost 11 per cent year-on-year at 722,000 TEUs, while traffic in the opposite direction increased by 14 per cent to total 687,000 TEUs.

The increase in Asia-to-Europe volumes was reflected by continuing increases in rates, ending the quarter 18 per cent higher than the average level for 2008.

However, other data showed that westbound Asia-Europe rates softened in March and April, falling from around $1,950 per TEU at the start of April to 1,818 per TEU at the end of the month.