Subscribe to our free, weekly email newsletter!


Ocean shipping: Global Port Tracker report calling for strong growth prospects in future quarters

By Jeff Berman, Group News Editor
May 31, 2011

Coming off a less-than-stellar first quarter, future prospects for import and export container volumes in Europe are expected to grow over the next six months, according to the monthly 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 in March are estimated to have increased 8.1 percent from February to 3.38 million TEU (Twenty-foot equivalent units) and 9.3 percent on an annual basis. March imports and exports are forecasted to be up 29.9 percent and 18.2 percent, respectively, from February.

It added that following what is to be expected active months in April and May, imports are projected to “settle down” through September, with each port expected to post annual gains but relatively flat sequential gains.

Global Port Tracker also reported that the coming four quarters are expected to result in annual growth for import and export volumes, with imports and exports forecasted to post annual growth through the first quarter of 2012.

While growth is still occurring, it has slowed some somewhat, coupled with excess capacity, which is masking the fact that cargo growth is still occurring, according to Ben Hackett, president of Hackett Associates, in an interview. Another factor weighing into growth projections, cited by Hackett is the pace of consumer spending.

“Consumers are spending less on durable and non-durable items, because they are spending more on food and gasoline,” said Hackett. “The excess capacity is coming on at a time when carriers are not removing existing vessels. This is causing freight rates to drop down to 2009 levels. The push made by carriers to increase freight rates has dissipated.”

While carriers are currently not removing vessels from rotations at the moment, Hackett said that could possibly occur fairly soon.

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

The Institute for Supply Management’s (ISM) August edition of the Manufacturing Report on Business saw its PMI, the ISM’s index to measure growth, fall 1.6 percent to 51.1, following a 0.8 percent decline to 52.7 in July. Even with the relatively slow growth over the last two months, the PI has been at 50 or higher for 31 consecutive months.

Hackett observed in the new report that China’s economy has lost steam, with actual growth falling short of targeted rates, while the United States most recent second quarter GDP reading at 3.7 percent outpaced expected targets, even though it was negatively impacted by gains in manufacturing and retail inventories.

The proposed merger of Cosco and CSCL could spark further container consolidation

The average price dropped 4.7 cents to $2.514 per gallon, which now stands at the lowest weekly average price for diesel since July 2009, when it was at $2.542 the week of July 27, 2009, according to EIA data.

The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that U.S. trade with its North America Free Trade Agreement partners Canada and Mexico in June dropped 3.8 percent annually to $99.0 billion. This followed a 10.8 percent decline in May to $92.7 billion.

Comments

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