The Hindu Business Line : More India-China cargo services

According to a report in International Herald Tribune, global shipping lines are set to cash in on the burgeoning trade between India and China, which grew 50 per cent last year and is set to further increase by 65 per cent this year. The trade between the two countries is expected to surpass $20 billion this year and the Chinese authorities are believed to be hopeful of reaching the targeted $50 billion by 2010.

The optimism is based on improved political relations between the two countries. The visit by the China's president to India this week is expected to further boost trade ties. The major container operators, therefore, are reorganising their services such that there are more services between the countries.

India imports manufactured products from China and exports raw materials, agricultural and various other products to that country. There is clearly a mismatch between China's exports to western countries and imports from them, with exports far exceeding imports. As a result, the east-bound vessels suffer from low utilisation. This imbalance is being corrected with the accent on increased services between Asia's two great nations.

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