Global container port capacity is projected to increase by an average annual rate of 2.4% to reach 1.38 billion TEUs by 2026.However, the worsening economic and geopolitical situation has led to a downgrading of the cargo demand outlook, and as a result container port utilisation is now projected to moderate to 70% in 2025 compared to last year’s projection of 75%.This is according to Drewry’s latest Global Container Terminal Operators Annual Review and Forecast that found while the majority of global terminal operators’ investment plans remain focused on existing assets, there has been a notable increase in the number of greenfield projects. “The renewed appetite for greenfield projects shows improved confidence in the market outlook,” says Eleanor Hadland, author of the report and Drewry’s senior analyst for ports and terminals.Hadland said the report had found that global supply chain disruption had resulted in increased cargo dwell times in 2021, which had generated additional storage charges, lifting terminal operators’ revenue growth above what could be justified on the basis of volume recovery alone.Port congestion did not appear to have adversely impacted financial performance, despite the widespread decline in productivity levels. The revenue-raising mechanisms have so far proven to be sufficient to offset the additional congestion-related operating costs. Operators also cite the continuing cost control measures implemented in response to Covid as having a positive impact on margins, according to the report.“Once global supply chain disruption eases, now expected in 2023, there is heightened risk that revenue gains will retreat as dwell times return to pre-pandemic levels,” said Hadland