Prospects on the transatlantic trades are improving after a rebound in trade last year, according to leading lines and analysts. Saturday, 12.Feb.2011, 14:20 (GMT+3)
But the rebound in trade could be hampered by weak economies on both sides of the 'pond'
Prospects on the transatlantic trades are improving after a rebound in trade last year, according to leading lines and analysts.
â€śProspects are fine, after years of difficulties on a trade which went through a lot of restructuring,â€ť said Jean-Philippe Thenoz, a senior VP at CMA CGM, which operates five services from Europe to North America.
Containerised exports from Europe last year increased by around 12.3%, year-on-year, according to the latest figures from Container Trades Statistics.
Imports to Europe were up 9.4%, although December saw a 3.5% year-on-year contraction, with a monthly total 5% lower than in November.
Drewry Shipping Consultants predicted in its latest Container Forecaster that North European containerised exports to the US would increase by 2.7% this year, with imports up 4.7%.
Maersk Lineâ€™s Soren Castbak, Senior Director, Network and Product, told IFW that after a sharp drop in exports and imports in 2009, the trade had returned to normal demand levels.
But he warned that additional growth this year could â€śbe limited, considering the state of economies on both sides of the Atlanticâ€ť.
A spokesman for Georgia Ports Authority said that while trade levels had stabilised, they had settled at a lower level than before the global financial recession.
â€śProspects for improvement remain cloudy, given the current financial crisis of the smaller countries [in Europe] and government spending restraints, as well as low consumption growth,â€ť he added.