World Trade Sees Substantial Gains in 2010
The trade winds are blowing favorably for global shipping.
A forecast by IHS Global Insight predicts that world trade by all modes of transportation will grow at a healthy 8.6 percent this year and 7.8 percent next year after declining 6 percent in 2009.
After logging financial losses last year totaling as much as $20 billion, ocean liners are beginning to see better revenue streams and are bringing more ships out of dry dock.
In February and March, the number of container ships parked on the ocean declined to a carrying capacity of 1.2 million 20-foot containers, or 9.1 percent of the fleet, the lowest level since July 2009, according to IHS Global Insight’s recent “Trends in World Economy and Trade” report.
By the end of March, an estimated 9 percent of additional capacity had been added when compared with April 2009.
Traffic on the trans-Pacific route, which is from Asia to the United States’ West Coast, began to recover in the third quarter of 2009, although it experienced a downturn in 2009 of 18 percent. For 2010, traffic on the trans-Pacific route should be up 10 percent.—Deborah Belgum
