Manufacturing trends to limit annual container trade growth to 4pc
Time：2016-06-21
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The report forecasts global throughput growth of less than four per cent each year for the next five years at container ports, according to Lloyd`s Loading List reported.
"Structural changes such as near-shoring, 3D printing, miniaturisation, saturation of container penetration, and possible reduction in the use of transshipment are depressing the port growth forecast," said the analyst.
Drewry`s said leading global container terminal operators were now recording revenue increases due to inorganic growth rather than organic - as reflected by flat yield growth - and this was dampening forward earnings forecasts.
This would prompt more consolidation activity in the container terminal operator sector, with liner-owned terminals in the spotlight for potential sales given that freight rates were near historical "cut-throat" levels.
"Hyundai Merchant Maritime had done so in March, and we believe more liner-owned terminals will be available in the coming months," said Drewry. "Deep-pocket operators such as CMHI and Cosco Pacific are expected to expand their presence overseas, following the latter`s May 2016 purchase of a 35 per cent stake in a Rotterdam terminal." said the report.