Port industry suffering
The word’s container port industry has seen a reversal in fortune with the industry’s first ever year-on-year fall in volumes. London-based Drewry Shipping Consultants forecast a 10.3 per cent fall in containers moved this year. The company’s previous worst performance was in 1982 which saw a 4.6 per cent growth. The four biggest operators – Hong Kong’s Hutchison Ports, Singapore’s PSA, Denmark’s APM Terminals and Dubai’s DP World – have all delayed or cancelled new construction projects.