While global use of container terminals are set to grow by 4.4% over the next five years, port capacity is projected to grow by only 2%.
This is according to the new ‘Global Container Terminal Operators Annual Review and Forecast 2019’ report by maritime analyst, Drewry,
This will lift global port throughput from the 784 million TEU recorded last year to close to one billion (973m) in 2023.
Yet the “well-below par” port capacity growth, “which reflects the continued easing off from greenfield projects by investors over the last few years”, will see a massive jump in terminal utilisation by 2023, according to Neil Davidson, author of the report and Drewry’s senior analyst for ports and terminals.
“As a consequence, average utilisation at the global level is forecast to increase significantly from 70% in 2018 to 79% by 2023. This though remains a comfortable level for both operators and customer alike,” he added.
