Global shipping to rebound in 2010-11 as economy recovers

Lexington, USA: World trade by all modes of transportation - sea, air and land - will grow 8.1 per cent in 2010 and 6.9 per cent in 2011, following a 7.2 per cent decline in 2009, as international trade volumes continue to increase in step with global economic recovery. The forecast is made by a leading global economic and financial analysis firm IHS Global Insight.

According to an IHS Global Insight report, containerized trade volumes at the global level will reach nearly 10.0 per cent, with a slightly stronger recovery - 10.6 per cent - on the mainline East-West trade lanes in 2010, before slowing over the next two years.

IHS Global Insight is a leading global economic and financial analysis firm involved with forecasting and market intelligence for more than 40 years.

According to their report, "Second Quarter Trends in World Economy and Trade" exports from the Far East to North America and Europe have bounced back as importers have begun to re-stock their depleted inventories as sales growth renewed.

The report says trade growth will continue into 2011 and beyond, though the pace is expected to be slower than in 2010. However, 2010 and 2011 will be better years compared to the hardship faced by the container industry in 2008 and 2009 with 3 per cent and -8 per cent growth on volumes of 20-foot equivalent units (TEUs), respectively.

World containerized trade, measured in TEUs, increased 9.2 per cent in 2010 and is projected to grow at 6.8 per cent in 2011.