INTERNATIONAL BANK Goldman Sachs says signs renewed shipping activity in Spain and Portugal in the first quarter indicate an economic upturn, reports London's Load Star.
Spain and Portugal, two countries on the brink of economic collapse, showed resurgent container volumes, leading the bank's country risk analysts to see renewed growth.
"Activity levels in southern Europe have picked up consistently across transport markets and countries, albeit from a low base. We highlight a return to positive throughput growth in Spanish and Portuguese container ports during the first quarter," said the bank's report.
This was a picture of improving though still negative year-on-year growth in Spanish and Italian toll road traffic, said the Goldman Sachs.
Spain's national ports authority Puertos del Estado reported container volumes in the first four months were down 3.5 per cent year on year to 4.37 million TEU, hit by an 8.9 per cent drop in transshipments.
But import-export gateway traffic rose by 6.4 per cent to 1.58 million TEU over the first four months of 2012 with Barcelona posting a 13 per cent increase in containerised exports year on year.
Singapore operator PSA which runs boxes through the Port of Sines with MSC as its big customer, reported a 54 per cent first quarter volume increase year on year to 122,500 TEU.
In March, PSA Sines announced that it was moving ahead with the final phase of its building programme, with the construction of a final 210 metres of quay taking its overall length to 910 metres.
WORLD SHIPPING
17 June 2013 - 20:56
Spain and Portugal trade box stats indicate upturn, says Goldman Sachs
INTERNATIONAL BANK Goldman Sachs says signs renewed shipping activity in Spain and Portugal in the first quarter indicate an economic upturn, reports London's Load Star.
WORLD SHIPPING
17 June 2013 - 20:56
Spain and Portugal trade box stats indicate upturn, says Goldman Sachs
This news 8986 hits received.
These news may also interest you