European container volumes to see ‘solid growth?

European container volumes to see æsolid growthÆ    Import and export deep sea container volumes across Europe are projected to show solid growth in the coming six months after a weak first quarter, according to the most recent Global Port Tracker report for North Europe.
   The report is produced by Hackett Associates and the Bremen Institute of Shipping Economics and Logistics (ISL).
   “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,' said Ben Hackett, the founder of Hackett Associates.

Hackett

   European imports and exports are forecast to post year-on-year growth in each quarter through the first quarter of 2012 at least, with the third quarter of 2011 anticipated to post a strong gain. Double-digit year-on-year percentage gains are projected in three of the upcoming four quarters for North Europe and in two quarters for the Mediterranean/Black Sea region.
   The Port of Hamburg is showing a healthy future with volumes expected to increase as transshipment to Scandinavia and Russia picks up, especially in the second and third quarters of this year.
   Hackett warned, however, with world trade this year projected to grow only in single digits and capacity expanding in double digits, 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,' he said. 'Oil and food price increases are taking their toll on consumer demand for goods.'