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Asia to fuel future growth in car carriers

Asia to fuel future growth in car carriers

Oslo: Vehicle sales are expected to grow sharply in Asia between now and 2010, especially in China, according to recent research from leading car carrier operator Wallenius Wilhelmsen Logistics (WWL).

Total Asian sales, excluding the Indian sub-continent, are set to rise by 6.8m units, more than half of the anticipated global increase of 12.4m, according to the company's projections. China itself will account for a 4.5m increase, 36% of the total. Traditional markets, on the other hand, such as Japan, Western Europe and the US will increase only slightly.  

Meanwhile, tonnage in the car carrier sector, which has been in relatively tight supply recently, is set to rise sharply as a huge volume of new capacity is due to be commissioned in the balance of this year and next. No fewer than 60 ships will be delivered during 2007 alone.

Total orderbook comprises about 150 vessels, with the Japanese majors ?" K-Line, MOL and NYK ?" accounting for some 35 ships, WWL and its Far Eastern affiliate Eukor Car Carriers Inc another 29 vessels, and South Korea's Cido 18.

WWL, formerly Wallenius Wilhelsen Lines, operates more than 60 vehicle carrier and ro ro vessels and last year recorded total revenues of $2.6bn.  [26/07/06]