APM sees growth in developing markets

APM sees growth in developing markets    Developing countries will offer better growth opportunities in 2010 for the stevedoring industry, said Richard Mitchell, chief commercial officer for APM Terminals.
   'The port industry and liner industry are closely intertwined and facing extraordinary times. In the good old days, markets were growing 10-15 percent every year. Last year, we witnessed the first ever decline in global container port volumes — estimated at 10 percent,” he said at the 12th Annual Global Liner Conference in London. APM is the terminal operating arm of the AP Moller – Maersk Group.
   “Volumes were hit in the developed world and in Eastern Europe, while Africa, the Indian Subcontinent and the Middle East fared best. Now — in the new normal — markets will grow slower. The opportunities are different now, there's more uncertainty and slower growth in mature markets compared to emerging markets,” he added.
   'Emerging markets offer higher growth opportunities than developed markets in 2010 since their decline in 2009 was not as severe — and they're expected to recover faster,” he said. ” It's also important to note — emerging markets have the highest levels of potential growth as the wealth of individuals improves in emerging nations over time.”