Business Data
Global industry overview - container overview Q210
2009 will no doubt g o down in container s hipping his tory as an annus horribilis . It was a year that s aw box lines g o to the wall and four major lines res cued at the las t minute - either by owners or with the help of g overnment aid. Major s hipping lines headed into the red, with analys ts now concerned about when profit will return to this beleaguered sector; just a short while ago the analysts ' bigges t worry was whether the sector would have enough capacity to be able to cater for demand that was predicted to be rocketing into the upper right-hand corner of trade growth graphs . With port throug hput data flooding in, the true extent of the damag e to container volumes in 20 0 9 is becoming apparent. Major bellwethers in the container shipping sector, the Port of Hong Kong for Asia and the Port of Los Angeles for the US, recorded year-on-year (y-o-y) drops in container throughput of 14 .57% and 14 .0 3% res pectively. Figures for the two major canals (Suez and Panama) also reveal the type of operating environment container lines faced in 2009 . In 2009 container vessels made up the big g es t ves s el percentag e s hare of s hips pas s ing throug h the Suez Canal. The canal's data g ive an indication of the fall of container vessels operating worldwide as trade volumes plummeted. The larg es t y-o-y fall was recorded in February 2009 , with container vessel numbers using the canal down 32% y-o-y. BMI notes that in s ome cas es this decline was not completely due to a decrease in container vessel numbersg lobally, but a fall in the number us ing the canal, as with the ons et of the downturn container lines looked to cos t cuts , and with bunker prices low avoided the Suez Canal and its tolls , opting instead for the long way around the Cape of Good Hope. This s trateg y only las ted until the oil price beg an to improve, with lines once more re-routing via the canal to s ave fuel cos ts . For the whole of 20 0 9 the Suez Canal recorded a 25% y-o-y decline in container ves s els pas s ing throug h the waterway. BMI notes that there were signs of aslig ht improvement in the last quarter of 2009 , with the y-o-y decline in vessel numbers levelling off, with container vess el trans its down jus t 20% y-o-y in December 2009 . Data from the Panama Canal illus trate a 5% drop y-o-y in the number of trans its of full container ves s els throug h the canal from 3,54 4 ves s els in 20 0 8 to 3,36 4 ships in 2009 .