Slowdown signs - APL sees container business lagging
Friday, 23 Oct 2009
Mr Eng Aik Meng president of Southeast Asia's largest box line APL, while speaking at the 3rd annual TPM Asia Conference in Shenzhen said that "The recovery in the world economy will not quickly filter to the container shipping industry."
He stressed that "Rates were unsustainable. At the rate we are going by 2014 the structure of the industry will change."
Casting his crystal ball, he suggested there could be trade growth as early as next year, but cautioned the outlook is still uncertain. He said that "Asia will arguably lead the way out of recession. But this will be in a changed environment for those in the logistics industry. It will not just be about export orientated logistics, there'll be more focus on inland, domestic logistics."
