Subscribe to our free, weekly email newsletter!

Global Port Tracker report reflects effects of financial woes in Europe

By Jeff Berman, Group News Editor
November 28, 2011

The financial crisis in Europe and overall economic uncertainty are continuing to extend the trend of flattish and slightly declining volumes, 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.

According to the report, total container volumes at these ports were estimated to have decreased by 1.1 percent from August to September at 3.41 million TEU (Twenty-foot equivalent Units), with September up 4.3 percent annually and 8 percent year-to-date through September. Year-to-date imports and exports were up 9.6 percent and 7.5 percent, respectively. September imports hit 1.78 million TEU, and exports came in at 1.43 million TEU.

For the entire third quarter, the Global Port Tracker noted that total volume was 5.76 million TEU, which represents a 1.1 percent dip from the second quarter and a 4.1 percent increase over the third quarter of 2010. Exports at 4.4 million TEU were up 9.4 percent annually.

Looking ahead, the report said that annual declines for imports are expected in the next four quarters and on the export side declines are expected in three of the next four quarters.

Ben Hackett, president of Hackett Associates, explained in a statement that “pessimistic comments by…various intra governmental institutions may lead to a growing lack of consumer confidence which will create the recession that is said to be looming as most of the Northern European countries mark down their projections for 2012 GDP growth.”

In a recent interview, Hackett said that sluggish volumes are up against the the backdrop of a very difficult financial situation in Europe, which includes the financial crisis in Greece, and the recently-held Eurozone meeting among leaders of European nations to help resolve the European debt crisis.

“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,” said Hackett. “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.

About the Author

Jeff Berman headshot
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. .(JavaScript must be enabled to view this email address).

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!

Recent Entries

While many auto executives expect more industry recalls in 2015 and 2016, just 8 percent use advanced predictive analytics to help prevent, prepare for, and manage recalls, according to a recent online poll from Deloitte.

Purolator white paper highlights common Canadian shipping mistakes. From failing to appreciate the complexity of the customs clearance process to not realizing that Canada recognizes both French and English as its official languages, U.S. businesses frequently misjudge the complexity of shipping to the Canadian market. This often results in mistakes - mistakes that can come with hefty penalties and border clearance delays, and that can result in lingering negative perceptions among Canadian consumers.

At a certain point, it seems like the ongoing truck driver shortage cannot get any worse, right? Well, think again, because of myriad reasons we could well be in the very early innings of a game that is, and continues, to be hard to watch. That was made clear in a report issued by the American Trucking Associations (ATA), entitled “Truck Driver Analysis 2015.”

Coming off of 2014, which in many ways is viewed as a banner year for freight, it appears that some tailwinds have firmly kicked in, as 2015 enters its official homestretch, according to Rosalyn Wilson, senior business analyst at Parsons, and author of the Council of Supply Chain Management Professionals (CSCMP) Annual State of Logistics (SOL) Report at last week’s CSCMP Annual Conference in San Diego. The SOL report is sponsored by Penske Logistics.

The average price per gallon for diesel gasoline increased 1.6 cents to $2.492 per gallon, according to data issued by the Department of Energy’s Energy Information Administration (EIA) this week.


Post a comment
Commenting is not available in this channel entry.

© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA