Trade within Asia is on the rise with volumes showing significant increases, according to Anthony Latham, M&S Logistics regional director Far East. Latham told FTW that compared to last year volumes for both intra-Asia and deep-sea had increased significantly. “The trade war with the US seems to have altered supply chains within the region and we have noticed a marked increase in new sea lanes,” he said. Trade tension between the US and China continue to escalate and widespread disruption has been expected for some time, especially considering that Asian supply chains are very integrated. With analysts predicting that some countries will see major benefit, the ongoing war is expected to hit other countries hard. “It is one of the biggest challenges in the region at present,” said Latham. “The uncertainty with regard to the trade war with the US and what effect it will have on the China market introduces all-round uncertainty to trade.” He said another concern was the rising sea freight rates, while space restrictions for ISO tanks was also problematic. “Despite these challenges I think the overall outlook for the Far East is very positive as it is a region that is still growing and with that comes real opportunity,” he said. According to Latham the company is planning to expand its footprint in the region extensively in the near future as part of its broader growth strategy.
