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Port Tracker sees 2015 as bad as 2009 was for Asia-Europe carriers
THE North Europe Global Port Tracker expects little growth in the three major EU economies - UK, France and Germany - in consumer demand, reports Lloyd's List.
"This year could be as bad for carriers as 2009 was," said Ben Hackett, whose Hackett Associates wrote the Port Tracker report.
German business expansion is slower than expected and unlikely to pick up in the next quarter," he said.
"We are seeing weak consumer demand and a consequent impact on the carriers who persist in continuing to provide far too much capacity, resulting in exceptionally low freight rates," he said.
The ongoing Greek crisis and sanctions against Russia will lead to imports to Europe as a whole growing by 1.8 per cent to 23.4 million TEU.
But northern Europe is expected to contract by just under one per cent to 13.9 million TEU, while the Black Sea-Med is projected to increase 6.6 per cent to 8.5 million TEU.
The 2015 export forecast projects a 2.8 per cent increase for Europe as a whole, with a total of 18.9 million TEU, with northern Europe decrease in 1.7 per cent to 11.7 million TEU and the Black Sea/Med increasing 11.1 per cent to 7.2 million TEU.
Port Tracker noted dramatic changes in market share among northern range ports. The opening of APM Terminals' Maasvlakte II terminal increased Rotterdam's market share to more than 30 per cent.
Neighbouring Antwerp saw the largest market share increase during the past quarters from 21.4 per cent in the third quarter of 2014 to 23 per cent in the first quarter of 2015, despite earlier fears of market share loss.
"Since all terminals have been financed in part by liner operators, the major players have their stakes there and will be striving to assure a fair utilisation of the facilities," the report said.
"This year could be as bad for carriers as 2009 was," said Ben Hackett, whose Hackett Associates wrote the Port Tracker report.
German business expansion is slower than expected and unlikely to pick up in the next quarter," he said.
"We are seeing weak consumer demand and a consequent impact on the carriers who persist in continuing to provide far too much capacity, resulting in exceptionally low freight rates," he said.
The ongoing Greek crisis and sanctions against Russia will lead to imports to Europe as a whole growing by 1.8 per cent to 23.4 million TEU.
But northern Europe is expected to contract by just under one per cent to 13.9 million TEU, while the Black Sea-Med is projected to increase 6.6 per cent to 8.5 million TEU.
The 2015 export forecast projects a 2.8 per cent increase for Europe as a whole, with a total of 18.9 million TEU, with northern Europe decrease in 1.7 per cent to 11.7 million TEU and the Black Sea/Med increasing 11.1 per cent to 7.2 million TEU.
Port Tracker noted dramatic changes in market share among northern range ports. The opening of APM Terminals' Maasvlakte II terminal increased Rotterdam's market share to more than 30 per cent.
Neighbouring Antwerp saw the largest market share increase during the past quarters from 21.4 per cent in the third quarter of 2014 to 23 per cent in the first quarter of 2015, despite earlier fears of market share loss.
"Since all terminals have been financed in part by liner operators, the major players have their stakes there and will be striving to assure a fair utilisation of the facilities," the report said.
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