THE Shanghai International Shipping Institute (SISI) predicts that the world's container throughput this year will grow four per cent year on year to 615 million TEU compared to the 7.5 per cent growth it experienced in 2011's the 15 per cent gain it make in 2010.
According to the SISI report, during the first three quarters of this year, the world's port throughput grew six per cent, compared to nine per cent last year. In the third quarter, the growth was even slower at five per cent.
Some Asian ports have started to see shrinkage in their throughputs during the third quarter with Shanghai down 0.3 per cent, Singapore declining 0.9 per cent and Guangzhou off 2.77 per cent. Overall the growth of Asian ports has slowed to 4.8 per cent from seven per cent in the first half of year.
The report said the decline in Europe is gaining momentum with weakening consumer demand. In the third quarter, Europe's largest port, Rotterdam, recorded a slip of one per cent in its throughput to 110 million tonnes. Antwerp is also seeing a drop of 2.4 per cent.
In comparison, US performance is stronger and even surpasses the market's most optimistic forecasts at the beginning of the year, noted SISI. During the first nine months, the throughput of major ports in US increased about two per cent, one per cent faster then in the same period last year. With Christmas drawing near, ports in America recorded an increase of 3.12 per cent in the third quarter. Canada's Vancouver even posted double-digit growth.
SISI's report pointed out that year-end holidays are boosting consumer demand and are expected to bring a moderate rebound in throughput in the fourth quarter, but this is far from enough to reverse a full-year weak performance.