Global Port Tracker predicts rise in Europe's ocean container volumes
Container volumes for next 6 months expected to hit 2008 levels
Europe's ocean container volumes are expected to show considerable signs of growth for the second half of the year, according to the Global Port Tracker: North Europe Trade Outlook’s latest European trade forecast.
The forecast projects that containerised volumes at Europe's key ports are to reach levels last seen in the first quarter of 2008, according to the Journal of Commerce.
The projected figures state a slow amount of growth at first, but as the year continues the figures become more encouraging, according to the results released earlier this week by Hackett Associates and the Bremen Institute of Shipping Economics and Logistics.
Ben Hackett, principal of Hackett Associates stated, “We are now back to the levels last seen in early 2008 and we expect the monthly flows to continue to outperform last year’s volumes".
However, Mr Hackett did warn that there may be a return to the laying up of ships as oil and food prices take their toll on consumer demands, according to the Journal of Commerce.
Despite predictions of strong growth within the ports of Northern Europe, they do show lower overall increases than the rest of the continent, Sonke Maatsch of ISL told the JOC.
The report highlights six of Europe's major northern ports, including the Port of Hamburg, that projects export volumes to remain relatively flat on a month-to-month basis, yet a solid year-over-year growth, according to the Port Tracker forecast.
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