Container volumes continue to grow
Moderate growth in container volumes across Europe seen in the beginning of the year have continued in March, according to Hackett Associates and the Bremen Institute of Shipping Economics and Logistics.
The latest Global Port Tracker: North Europe Trade Outlook said low volumes in February led to a relatively weak quarter, with a total of 5.52 million teu.
This represents a 2.1% increase over the previous quarter and an 8.9% year on year gain. In February it predicted imports in the first quarter of 2011 to increase 7.3% year on year.
Import volumes for March were up 8.6% year on year and 6% month on month.
Export volumes for March were, at 1 million teu, 16.1% up on the previous month and 7.8% higher than March 2010.
Meanwhile, Ben Hackett, Founder of Hackett Associates, predicts trade to grow only in single digits this year, despite capacity increasing in double digits.
“The carriers will be under considerable pressure as freight rates remain weak. One can certainly expect to see a return to laying up ships in the coming months.”
The Global Port Tracker monitors six North European ports: Le Havre, Antwerp, Zeebrugge, Rotterdam, Bremen/Bremerhaven and Hamburg.
The ports of Zeebrugge and Hamburg were the only ports to see a decrease in incoming volumes in March, while Antwerp was the only port to experience double-digit increases.
Analyst Alphaliner has reported that the total volumes of containership deliveries in 2013 could hit 2 million teu, reigniting concerns that overcapacity could once again become an issue.
It forecasts that total capacity in 2013 would increase by at least 8.9% and as much as 11.3% if all options and letters of intent are exercised.
At the Containerisation International 13th annual Global Liner Shipping conference in London this year, Nicolas Sartini, Senior VP at CMA CGM warned that unless volumes pick up, overcapacity will drive rates down while bunker costs will soar and profitability will plunge.
Source: IFW News
