North European ports continue to project relatively strong growth in the first half of 2014, despite the miserable results forecast for 2013.
According to the Global Port Tracker report, North European laden imports in October were down more than 9 percent year-over-year, but are expected to grow 16 percent in the first half of 2014 on a 10 percent increase in laden imports for all of Europe. In addition, exports are also expected to rebound as the Asian and U.S. economies gain strength.
Short-term indicators are pointing “in the right direction” with seasonally adjusted industrial production having increased 1 percent in the 17-nation eurozone and by 0.5 percent in the European Union as a whole in August, compared with drops of 1 percent and 0.6 percent, respectively, in July, according to Eurostat.
Total imports to Europe increased 0.8 percent in August from July, with a 1.3 percent increase in North Europe and a 0.2 percent gain in the Mediterranean and Black Sea region. Total exports fell 8 percent, with a 7.5 percent decrease in North Europe and an 8.7 percent drop in the Mediterranean and Black Sea region.
Continue reading: Journal of Commerce – Report: North European Ports to See ‘Relatively Strong Growth’