The world’s containerisation throughput is set to reach 731.88 million teu by 2017, while the “green shoots” of recovery are expected to strengthen this year, according to a new report by Global Industry Analysts (GIA), ifw-net reports.
The Maritime Containerization: A Global Strategic Business Report said continued industrial development and the expansion in commercial operations of businesses across the globe will aid the growth of the global container shipping industry in the short to medium term.
“The maritime industry is expected to witness a sound rebound in exports shipped from Asia to Europe and North America, resulting in sturdy growth in global container traffic between 2010 and 2017,” it said.
The report credited the growth in throughput to a number of factors including volume of merchandise trade and bulk cargo transported via containers, increasing trade with Asian trading partners, the use of cutting edge technology, and the rising importance of merchandise trade to global economic activity.
“Growth in the container shipping industry went through a rough patch during the years 2008 and 2009 as the icy chill of the worldwide recession spread across all industrial sectors. Declines in containerised trade volume started in mid-2008, and intensified in 2009,” it said.
It noted that by the end of 2008, shipping times were increased noticeably through slow-steaming.
“However, tightness in credit markets restricted the ability to load cargoes for departure at major ports. Also, debt load of new ship construction was a major setback for shipping companies, causing major implications and bankruptcies for shipyards. This, coupled with the high price volatility of raw commodities resulted in a perfect storm for the worldwide marine commerce.”
One of the steepest declines in container traffic was observed on the trans-Pacific route between Asia and the US West Coast.
The report said economic recovery and the favourable merchandise imports-exports scenario will cause a resurgence of container throughput at global sea ports.
“The green shoots of recovery are expected to become more prominent in the year 2011. Container shipping in emerging nations such as China and India showcases a stabilised picture, and promises a quick rebound in terms of container throughput, and newbuildings.
“In fact, exports from Far East to Europe and North America have already rebounded as importers started to restock their depleted inventories and attempt to deal with renewed sales growth,” it said.
The Maritime Containerization: A Global Strategic Business Report said continued industrial development and the expansion in commercial operations of businesses across the globe will aid the growth of the global container shipping industry in the short to medium term.
“The maritime industry is expected to witness a sound rebound in exports shipped from Asia to Europe and North America, resulting in sturdy growth in global container traffic between 2010 and 2017,” it said.
The report credited the growth in throughput to a number of factors including volume of merchandise trade and bulk cargo transported via containers, increasing trade with Asian trading partners, the use of cutting edge technology, and the rising importance of merchandise trade to global economic activity.
“Growth in the container shipping industry went through a rough patch during the years 2008 and 2009 as the icy chill of the worldwide recession spread across all industrial sectors. Declines in containerised trade volume started in mid-2008, and intensified in 2009,” it said.
It noted that by the end of 2008, shipping times were increased noticeably through slow-steaming.
“However, tightness in credit markets restricted the ability to load cargoes for departure at major ports. Also, debt load of new ship construction was a major setback for shipping companies, causing major implications and bankruptcies for shipyards. This, coupled with the high price volatility of raw commodities resulted in a perfect storm for the worldwide marine commerce.”
One of the steepest declines in container traffic was observed on the trans-Pacific route between Asia and the US West Coast.
The report said economic recovery and the favourable merchandise imports-exports scenario will cause a resurgence of container throughput at global sea ports.
“The green shoots of recovery are expected to become more prominent in the year 2011. Container shipping in emerging nations such as China and India showcases a stabilised picture, and promises a quick rebound in terms of container throughput, and newbuildings.
“In fact, exports from Far East to Europe and North America have already rebounded as importers started to restock their depleted inventories and attempt to deal with renewed sales growth,” it said.