Global Port Tracker: Don't expect European economies to recover in 2013

Global Port Tracker: Don't expect European economies to recover in 2013 CONTAINER trade in Europe will "stagnate" due to lacklustre consumer demand shown in a container throughput decline in 2012 of 200,00 million TEU year on year, according to the Hackett Associates and Institute of Shipping Economics and Logistics' (ISL), which together produce the Global Port Tracker report.

"Do not expect the northern European economies to recover," said Hackett Associates founder Ben Hackett. "With consumers reluctant to spend in times of economic doubt, imports are expected to stagnate throughout 2013."

Of the six North Europe ports, Rotterdam and Antwerp imports are forecast to increase by four per cent and three per cent respectively with Hamburg and Le Havre to grow in line with the general market against a volume decline of up to eight per cent in Bremen/Bremerhaven.Overall it is unlikely to cross over the 40 million TEU mark at a meagre growth of one per cent in 2013, according to its North Europe Trade Outlook report.

Early indications of an import decline is shown in 2012 imports of empty containers at four million TEU, an increase of 13 per cent year on year. This is predicted to grow to 14 per cent to 4.5 million TEU in 2013, said ISL economist Sonke Maatsch.

Although January data for the Asia-Europe trade from Container Trades Statistics was up 2.5 per cent year on year to 1.3 million TEU, this simply reflects Chinese New Year holiday in February, added ISL.