Global port industry on unsteady footing
At the start of the financial crisis in 2009, the port industry was outperforming other sectors, according to Shanghai International Shipping Institute’s Global Port Development Report (3Q12), but the worm has finally turned.
World’s container throughput recorded an increase of 15% in 2010 and 7.2% in 2011, both higher than the average GDP growth.
However, SISI predicts that this year the world’s total container throughput will struggle to hit 4% growth year-on-year, with 615m teu handled.
Signs that ports are faltering can be seen in Asia, where ports failed to maintain stable growth in the third quarter of 2012, with throughput at Shanghai, Singapore and Guangzhou dropping 0.3%, 0.9% and 2.77% respectively, according to the report.
“The stagnant economy and trade of emerging economies in the Far East has hindered the development of their port industry”, which has hindered global port growth figures, said the report.
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