EUROPE and the Mediterranean region are emerging as dominant container trade partners for east coast of South America (ECSA) exports, particularly from Brazil, reports New York's Journal of Commerce.
Carriers are responding to this trend by introducing new services and increasing vessel deployment on this corridor.
According to liner metrics, both the number of services and vessels connecting South America with Europe and the Mediterranean have shown steady growth over the past four years.
In contrast, the South America-North America corridor has experienced a decline in these metrics.
Despite the overall increase in deployed capacity on both trades, the average ship size on the South America-North America route still falls behind that of the Europe and Mediterranean corridor, as analysed from shipping data.
This shift towards Europe and the Mediterranean is further evidenced by the rising value of Brazil's exports to countries in these regions compared to the US.
European countries are also progressively claiming a larger share of Brazilian exports in terms of per centages, as reported by trade figures.
Adding to the development of this trade route, Ocean Network Express (ONE), Cosco Shipping Lines, and its subsidiary Orient Overseas Container Line (OOCL), headquartered in Hong Kong, are the latest carriers to join the ECSA-Europe-Mediterranean trade.
They plan to launch a weekly service from Montevideo on September 16, with a specific focus on catering to South American exports.
"This new service is designed to meet the refrigerated container demand from east coast South America to Europe," said OOCL.
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