ASEAN share of US-bound container shipping surpasses 20 pct for first time

Total shipping volume from members of the Association of Southeast Asian Nations (ASEAN) increased in 2020, pushing its global share above the 20 percent mark for the first time and making its presence felt in the US-bound marine transportation market, reported Nikkei Asia Review.

At a Vietnamese sea port

In contrast, the share of shipping originating in China, which is the highest globally, has decreased for two straight years.

As the US-China trade tension simmered, the COVID-19 pandemic hit the global economy. The latest trends in US-bound marine transport, which also showed increased Vietnamese furniture exports, indicate a stay-at-home US lifestyle.

These trends have been revealed by the Japan Maritime Centre, which tallied US-bound transportation from 18 Asian countries and regions. The figures show a notable increase in shipping from ASEAN, including Singapore and seven other countries.

The volume reached 4.01 million units, based on the capacity of a standard 20-foot container, representing a year-on-year increase of 16.1 percent and exceeding the 4 million mark for the first time, with ASEAN's share increasing 2.3 percentage points to 21.9 percent.

In particular, Vietnam, which contained infections relatively early, increased its presence, the article added.

The US-bound volume originating in Vietnam increased 24.8 percent to 1.99 million units, posting a share of 10.8 percent, up 1.8 percentage points from a year earlier.

The share expansion of the ASEAN region was driven also by the homebound lifestyle in the US.

ASEAN's US-bound shipping volume of furniture increased 13.1 percent and 29.4 percent for home electronics from a year earlier. This helped boost the volume departing from Vietnam, which has many furniture and smartphone plants./.

VNA