Everything seems to indicate the worst of the world economic crisis is over. The fiscal stimulus provided by governments to help cope with the crisis is having an important impact in improving the economic outlook for 2010. Nevertheless, high unemployment rates may affect these growth projections, and we may face another slowdown in 2011. What seems certain is that trade is beginning to pick up in some trade lanes, and particularly in some commodities.
In the container sector, however, demand growth doesn’t seem to be sufficient to cope with overcapacity. This may result in some consolidation and restructuring of the industry, which ideally will have positive implications in freight rates, distribution of market share and improvement in the financial situation of the remaining players.
As for the rest of the supply chain, we continue to see an increased trend to being more conscious about the environment and ensuring the use of the cleanest transportation modes and routes. Because the Panama Canal is a shortcut, which reduces distance and time, we feel the all-water route will become even more attractive in the future.