Europe ports see “toned down” 2011

Europe ports see “toned down” 2011

Europe ports see “toned down” 2011

   European ports will see a “toned down” 2011 after container volumes this year rebounded to almost 2008 levels, a report released Tuesday said.
   Container imports in 2010 will total about 21.1 million TEUs, up 13.8 percent from 2009 or close to 2008 volumes, said the Global Port Tracker: North Europe Trade Outlook. It estimated 13.9 million TEUs of those imports will move through North Europe ports and 7.2 million TEUs through Mediterranean and Black Sea ports.
   The report is prepared by Hackett Associates and the Bremen Institute of Shipping Economics and Logistics. Hackett also produces a similar report on U.S. ports together with the National Retail Federation.
   Containerized exports from Europe are expected to total 15.8 million TEUs in 2010, an increase of 11.3 percent over 2009. (About 10.2 million TEUs will move through North Europe ports and 5.6 million TEUs through Mediterranean and Black Sea ports.)
   Ben Hackett, the founder of the research firm, said the growth was aided by government stimulus packages and the re-building of inventories by retailers,
   He expects a “toned down 2011” with growth in the 8 to 9 percent range for imports and 5 percent for exports “in light of the various austerity measures that have been put in place in key economies.
   'Most of the growth will come in the second half of the year,'
Hackett said. 'As we look forward for the next six months, we should expect to see relatively little growth month-on-month until we come out of the slack season towards the end of March.    However, Germany may well be the exception to restrained growth with unemployment falling and exports rising.' ' Chris Dupin