DECLINE IN IMPORTS
Shipping faces choppy conditions
Leading global shipping company Maersk’s Trade Report shows the stronger rand has had little impact on imports
SA’s shipping market is expected to remain under pressure in 2017, with import figures likely to be weaker after low third-quarter import numbers despite a strengthened rand. After dismal first-quarter figures, the market had stabilised. But despite this, low growth figures were expected for the rest of 2016 and 2017, Maersk Line Southern Africa trade manager Matthew Conroy told Business Day in a recent interview. Maersk’s Trade Report for the third quarter of 2016 indicated a strengthened rand did not trigger an increase in imports, linked to South African consumers buying fewer auto, retail and electronic goods. Maersk is the world’s largest shipping company, moving about 15% of freight.
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