The ports' industry is reflecting changes in economic activities, with emerging economies' terminals gaining prominence. Alphaliner's top 30 ports list now includes Dubai, overtaking Rotterdam due to a decline in the latter's volumes, and Tanger Med surpassing Hamburg. The top ten features six Chinese ports, alongside Singapore, Busan, the Los Angeles/Long Beach complex, and Dubai. Hong Kong has exited the rankings after a consistent drop in volumes. The World Trade Organization anticipates modest global economic growth, with trade volumes expected to increase in the coming years, despite recent declines influenced by geopolitical tensions and challenges in Europe and the US. However, Asian economies, including ports in the Middle East and India, continue to show robust growth.
North American ports have seen significant declines, with Los Angeles, Long Beach, New York, and New Jersey experiencing notable drops in volumes. Despite current market fluctuations, efforts to enhance trade relations within Asia and diversify manufacturing locations are contributing to inter-regional supply chain shifts and increased consumer power in these markets. Long-term growth is projected to emerge from the Middle East, Asia, Latin America, and Africa. In contrast, European ports have been affected by geopolitical events, leading to shifts in port rankings, with Dubai moving up as Rotterdam and Hamburg face volume reductions. The recent recovery signs in North European ports and strategic movements like the Gemini Cooperation's hub and spoke system highlight the evolving dynamics of global trade and port operations.
Source: container-news.com