The report, Global Container Terminal Operators 2011, shows the top five operators, as measured by equity TEU throughput, were unchanged in 2010, with PSA International leading the pack, followed by Hutchison Port Holdings, DP World, APM Terminals, and COSCO Pacific.
But the industry saw utilization and profit levels climb in 2010 after a torrid 2009.
'The effects of the downturn are still to be seen in relatively low forecast capacity increases for many operators and for the industry as a whole, although global operators are now reactivating many terminal investments deferred during the financial crisis,' the consultant said.
Drewry noted that several smaller operators, all based in China, appear ready to break into the list of the top 10 operators. The report notes China Shipping, China Merchants, and the Shanghai International Ports Group as companies that have sizable cash assets and a determination to expand to terminals outside of Asia.
'The appetite for investing in the container terminals business has returned strongly,' said Neil Davidson, Drewry's senior advisor, ports. 'There is evidence of increased (merger and acquisition) and privatization activity, and also signs of renewed interest in bidding for greenfield developments. Several strong companies are mounting serious challenges to enter the big league based on very strong cash positions, and the incumbent international operators will need to be ready to face this new competition.'
The report also projects average regional utilization levels forward to 2016, comparing it with 2010 levels. The Far East and Southeast Asia are projected to be at 94 percent to 98 percent utilization by 2016, compared to 69 percent and 72 percent currently. Utilization rates (essentially how close to design capacity a terminal is operating) are forecast to rise significantly in South America and the Middle East as well.
Slower growth regions like North America and Europe will see utilization levels increase, but at a slower pace, with both forecast to see about 67 percent utilization by 2016.
'The current indications are that in the next five years demand growth will significantly outstrip capacity expansion, leading to rapidly rising utilization levels in many ports and regions of the world,' Drewry said.
