Global Port Tracker report points to flat growth amid difficult circumstances

Growth prospects in Northern Europe remain stalled, according to the most recent edition of the Global Port Tracker Report from Hackett Associates and the Bremen Institute of Shipping Economics and Logistics.

By ·

Growth prospects in Northern Europe remain stalled, according to the most recent edition of the Global Port Tracker Report from Hackett Associates and the Bremen Institute of Shipping Economics and Logistics.

Ports surveyed in this report include the six major container reports in North Europe: le Havre, Antwerp, Zeebrugge, Rotterdam, Bremen/Bremerhaven, and Hamburg.

The report stated that total container volumes at these ports were estimated to have decreased by 0.9 percent in August from July to 3.42 million TEU (Twenty-foot equivalent Units), with August up 4.5 percent year-over-year and 8.5 percent year-to-date through August—and year-to-date imports and exports up 10.1 percent and 7.6 percent, respectively. And on a sequential basis, the 1.98 million TEU imported into Europe and the 1.48 million TEU exported out of Europe were down 0.6 percent and 3.2 percent, respectively, from July.

For the calendar year 2011, the report’s authors are calling for total import growth to be up 7.3 percent, with imports into North Europe to be up 8.9 percent. Despite this projection, total growth, according to the report, is forecasted in one of the next six months, and annual growth is anticipated in four of these months, with double-digit growth expected in three of them.

These projections come against the backdrop of a very difficult financial situation in Europe, which includes the financial crisis in Greece, and the Eurozone meeting being held this week among leaders of European nations to help resolve the European debt crisis.

“It does not look like at this point the Eurozone meeting is going to solve the existing problems as there is too much disagreement,” said Ben Hackett, president of Hackett Associates. “Without an agreement, it spells a major crisis for the Euro and will probably leave Greece hanging out on its own, with Spain and Italy not far behind. It will be make or break for Greece with the Euro not far behind.”

What’s more, the potential impact on global trade due to these circumstances could be devastating, said Hackett, as it could cause a financial crisis as the banks try to avoid losing huge sums of money on Greece and loans, coupled with consumers cutting back on non-essential purchases altogether.

Given this tenuous situation, Hackett explained that the numbers in August, despite the many issues occurring at the moment, are a testament to how well Europe is holding up compared to North America, with solid year-to-date numbers for international trade.

“The fourth quarter, though, is showing some weakness so far compared to previous quarters,” said Hackett. “Growth in Europe has been pretty flat since July, with some seasonal weakness in effect.”


About the Author

Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman

Subscribe to Logistics Management Magazine!

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!

Latest Whitepaper
Reduce Order Processing Costs by 80%
Sales order automation software will seamlessly transform inbound emailed and printed purchase orders into electronic sales orders that can be automatically processed into your ERP system with 100% accuracy.
Download Today!
From the June 2016 Issue
In the wildly unstable ocean cargo carrier arena, three major consortia are fighting for market share, with some players simply hanging on for survival. Meanwhile, shippers may expect deployment shifts as a consequence of the Panama Canal expansion.
WMS Update: What do we need to run a WMS?
Supply Chain Software Convergence: Synchronization Realized
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Optimizing Global Transportation: How NVOCCs Can Use Technology to Operate More Profitably
Global transportation isn't getting any easier to manage, especially for non-vessel operating common carriers (NVOCCs). Faced with uncertainties like surcharges—but needing to remain competitive when bidding against other providers—NVOCCs need the right mix of historical data, data intelligence, and technology support to make quick and effective decisions. During this webcast you'll learn how Bolloré Transport & Logistics was able to streamline its global logistics and automate contract management.
Register Today!
EDITORS' PICKS
Top 50 U.S. and Global 3PLs 2016: Technology Now the Key Differentiator
Following last year’s merger and acquisition frenzy, the speed of technology implementation by the...
Digital Reality Check
Just how close are we to the ideal digital supply network? Not as close as we might like to think....

Top 25 ports: West Coast continues to dominate
The Panama Canal expansion is set for late June and may soon be attracting more inbound vessel calls...
Port of Oakland launches smart phone apps for harbor truckers
Innovation uses Bluetooth, GPS to measure how long drivers wait for cargo