Optimism today - but wait to see follow up

 

 

While the industry should see “strong growth” in the area's 2010 deep sea import figures, there will be a more restrained 2011, says the report released by Hackett Associates LLC and the Bremen Institute of Shipping Economics and Logistics (ISL).

 

 

The 21.1 million teu expected to show up in the 2010 import figures would almost mark a return to 2008 levels, with the 13.9 million teu forecast for the region representing a 12.1% increase from 2009.

 

 

Michael Tasto of ISL is optimistic. “At present, it would appear that the anticipated downturn finally materialised but was nowhere as severe as initially feared,” he says in the Global Port Tracker. “As a result, container handling in Northern Europe has developed well over the year and liner operators have been more hesitant in cutting capacity than initially announced.”

 

 

Exports from Northern Europe will, however, end up almost level compared to last year, decreasing by 0.7 per cent to 10.1 million teu despite strong growth in overall exports across Europe of 15.8 million teu, an 11.3% increase over 2009.

 

 

as for next year, one of the Tracker’s authors, Ben Hackett, explained that in light of the various austerity measures put in place in key economies, the Global Port Tracker projects a toned down 2011 with a rise in the 8% to 9% range for imports, and exports expanding over 5%.

 

 

“Most of the growth will come in the second half of the year,” said Mr Hackett, “as we look forward for the next six months, we should expect to see relatively little growth month-on-month until we come out of the slack season towards the end of March. However, Germany may well be the exception to restrained growth with unemployment falling and exports rising.”

(Source:www.portstrategy.com)