Thanks to the world economy and trade improving this year, port throughput recovered quickly this year – a 15 to 20 percent average increase compared to the same period in 2009. As proof, many ports recently reported their container traffic continues to increase, with some even posting new monthly record container volume.
We should confidently look forward to a successful and prosperous new year in 2011 when the world economy continues to grow and returns to a pre-crisis level. As a consequence, the world port throughput will continue its upward trend, surpassing the level of 2008 container volume.
As the shipping industry is expected to offer high-quality service with zero tolerance of delays, ports must provide the necessary facilities to ensure ships are serviced speedily. Moreover, if projected trade growth of 6.3 percent for 2011 is realized, world trade volume will literally have bounced back to pre-recession levels. Hence, the need for systematic enlargement of container handling capacity guided by prudent assessment of growth – its pattern, consistency and sustainability – has to be satisfied. To that end, the IAPH World Ports Conference in 2009 passed a resolution calling on the industry to make the necessary investments to improve productivity and expand capacity once the world economy recovers.
There are two challenges that can hold back overall growth and maritime trade. The impact of terrorism and increased piracy on maritime trade are too obvious, resulting in longer transit times and higher insurance premiums.