Aftermarket

IHS Global Insight: Global Shipping to Recover in 2010

April 27, 2010

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World trade by all modes of transportation is expected to grow by 8.5 percent and 7.8 percent in 2010 and 2011, respectively
, according to the latest forecast from IHS Global Insight's World Trade Service. According to the researchers, carriers have started to increase capacity.

Trade volumes on the Far East to Europe routes should rise 8 percent in 2010. Transpacific eastbound trade - from Asia to North America - began to recover in the third quarter 2009, though the downturn in 2009 was 18 percent, and is forecast to grow 10 percent in 2010. Westbound trade should see solid growth after two years of decline.

Eastbound transatlantic trade from North America to Europe is expected to return to 2007 levels by 2013. However, westbound transatlantic traffic will not recover to 2007 levels until 2015.

IHS Global Insight expects bulk trade to grow 8.9 percent in 2010 as commodity consumption demand recovers. Dry bulk commodity shipping tonnage, including grain, iron ore and coal, fell 2 percent in 2009 but should grow 9.4 percent in 2010, despite decreases in global grain shipments. Meanwhile, liquid bulk trade is also forecast to grow 8.5 percent in 2010.

An executive summary of the forecast, "Trends in World Economy and Trade," is available at www.ihsglobalinsight.com/worldtrade.

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