HANOI – Total shipping volume from members of the Association of Southeast Asian Nations (ASEAN) increased in 2020, pushing its global share above the 20% mark for the first time and making its presence felt in the US-bound marine transportation market, reported Bernama.
VNA, reported, quoting Nikkei Asia Review, that 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 export, indicate a stay-at-home US lifestyle.
These trends have been revealed by 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% and exceeding the 4 million mark for the first time, with ASEAN’s share increasing 2.3% points to 21.9%.
In particular, Vietnam, which contained infections relatively early, increased its presence, the article added.
The US-bound volume originating in Vietnam increased 24.8% to 1.99 million units, posting a share of 10.8%, up 1.8% 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% and 29.4% for home electronics from a year earlier. This helped boost the volume departing from Vietnam, which has many furniture and smartphone plants.