Shippers predict sluggish year ahead for China

Players in the shipping are forecasting a slow 2013 for Chinese exports in contrast to other signs of increasing demand for the country’s goods, The Wall Street Journal reported. Hong Kong shipping company Orient Overseas Container Line (OOCL) hasn’t counted an uptick in containers of Chinese-made products on its trans-Pacific or Asia-Europe routes, said Stephen Ng, director of trades for the company. OOCL’s parent, Orient Overseas International (0316.HKG), said on Tuesday its container volume on the trans-Pacific route declined 6.8% in the 2012 fourth quarter year-on-year. Shipping consultant Alphaliner forecasted marginal growth in 2013, predicting a 1% increase on Asia to Europe routes and a 1.6% trans-pacific increase. In 2012, Asia-Europe volumes fell 5% and trans-Pacific numbers declined 0.4%, according to Alphaliner research. Most of the containers on both routes transport goods from China. The negative sentiments run against the official China export figures that showed a December increase of 14% year-on-year. The data attracted skepticism from analysts who believe the numbers were influenced by extraneous circumstances.