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
Digital Issue: The Current State of Third-Party Logistics Services
It has become quite clear that logistics professionals are now facing an unprecedented set of challenges. From tightening capacity, to ongoing regulation hurdles, to the complexity brought on by e-commerce, today’s shippers are transforming the way they manage their logistics operations.
Download Today!
From the June 2017 Issue
Here are five trends that every shipper­—and potential shipper—must watch as the demand for experienced logistics and supply chain professionals soars.
2017 Rail/Intermodal Roundtable: Volume stable, business steady
Cross-Border Logistics: NAFTA tune-up time
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Women in Logistics: Breaking Gender Roles to Win the War for Talent
In this session you'll hear from a panel of women who are now leading top-level logistics and supply chain operations. The panel will share their success stories as well as advice for women who are now making their way up the ladder.
Register Today!
EDITORS' PICKS
2017 Top 50 3PLs: Investment and Consolidation Maintain Traction
The trend set over the past few years for mergers and acquisitions has hardly subsided, and a fresh...
The Evolution of the Digital Supply Chain
Everyone is talking about terms like digitization, Industry 4.0 and digital supply chain management,...

2017 Salary Survey: Fresh Voices Express Optimism
Our “33rd Annual Salary Survey” reflects more diversity entering the logistics management...
LM Exclusive: Major Modes Join E-commerce Mix
While last mile carriers receive much of the attention, the traditional modal heavyweights are in...