CMA-CGM WAXes Lyrical About Asia-to-Gulf Trade Opportunity — Panjiva


CMA-CGM WAXes Lyrical About Asia-to-Gulf Trade Opportunity

China 1760 Corp - Shipping 608 Energy - Crude Oil 195 Mode - Containerized 1005 Mode - Seaborne 1273 Qatar 12 Saudi Arabia 29 UAE 13

CMA-CGM is extending its “WAX” service between Asia and the Middle East, adding ports in China, South Korea and Oman. That’s likely designed to take advantage of rising consumer and industrial demand in the Middle East after oil prices climbed 47% on a year earlier in the second quarter of 2018. The service update follows a 6% decline in China’s exports to the Middle East in 2017 vs. 2016 that has since reversed to a 3% improvement in the three months to May 31. Leading exports to the region that may be carried by sea include personal computers ($1.7 billion) and air-conditioners ($1.1 b...

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