Volumes of cargo being handled by ports across the world is growing faster than expected, the World Trade Organisation reports.
The WTO has revised its growth forecasts upwards for merchandise trade volume in 2017 to 3.6%, up from its previous estimate of 2.4%.
This is good news for the Port of Liverpool, operated by Peel Ports, which earlier this year opened its £400m Liverpool2 deep water port terminal – capable of handling 95% of the world’s biggest cargo vessels.
Peel is aiming to “revolutionise” the UK logistics market which is currently geared towards the delivery of cargo to the Southern English ports, despite many of the goods being destined for the northern half of the UK.
The WTO figure back up a report in early September from the Shanghai International which reported that container throughput at the world’s major ports in the second quarter of this year were up by 7.2% against the same period in 2016.
WTO director-general Roberto Azevedo said the rise was “welcome news” but added that the increase in protectionist rhetoric from world leaders such as US President Donald Trump was a concern.
“Though difficult to quantify, these risks are very real,” said Mr Azevedo.
In September, Peel Ports announced Dutch shipping company WEC Lines is to launch a new cargo services connecting the Port of Liverpool with Huelva and Vigo in Spain, Leixoes in Portugal and Dublin.
The service began at the end of September with weekly 300TEU vessels, but this is expected to grow significantly once trade develops.
In 2016, WEC Lines began weekly calls at the Port of Liverpool connecting with Lisbon, Setubal, Leixoes and Sines, with other links to Ireland, Scotland, Morocco, Spain and the Canary Islands.
Consultant at YBNews
Mobile: 07931 964948