Asia volumes show signs of recovery

Safmarine’s South African-born Asia region executive, Grant Daly, says the company’s third quarter volumes from the Asia region have improved. “It’s the result of unprecedented low inventory levels and subsequent restocking of orders coinciding, rather timeously, with the traditional peak season,” he told FTW. Daly says volumes have increased significantly on all Asia trades through the peak and revenues are up as a result of rate restoration initiatives on all services. “The rates needed to go up. The current market conditions for container shipping remain poor and are totally unsustainable.” Daly says third quarter volume growth from Asia to Africa has been the most positive of all Safmarine’s ex-Asia trades. However, accompanying the increase in Asia-Africa volumes is an increase in competition on a number of Africa trades, notably the Asia-West Africa route. “We view the increased competition as an opportunity to demonstrate and further refine the personal attention and service that has been Safmarine’s key differentiator,” he says.