Container traffic pick up boost for Teesport
THE world's largest container shipping line - and one of Teesport's biggest users - swung back into profit this week, further bolstering the port's plans to grow its container traffic business.
First quarter results for Danish owned AP Moller-Maersk Group showed a positive $639m for January 1 to March 31, compared to a loss of $373m in the same period last year.
Its container shipping and related activities division produced net profits of $168m compared with a $581m loss in 2009 on revenues up 23% to $5.75bn.
The figures confirmed PD Port chief executive David Robinson’s claim earlier this month that Teesport could easily achieve its ambitious target of boosting container volumes by 40% this year.
Official raffic volumes due to be released by the government this month are expected to confirm at least a 20% rise so far.
Maersk chief executive Nils Anderson attributed the company’s turnaround in performance to a recovery in container shipping markets, which were hit hard by a downturn in consumer spending last year.
The spike in activity saw the line carry 20% more containers in the first quarter of 2010 compare to the same period a year earlier.
The increase was partly related to restocking in Europe and the US, it said.
Meanwhile, Germany’s Hapag-Lloyd, which was also badly hit by last year’s slump, also said it had returned to profit.
Teesport experienced a 20% growth in container volumes in 2008/9, against a market decline of 10%.
In the second half it saw an unprecedented 50% growth.
“Those run rates have continued into the New Year. The Q1 figures are quite impressive,” Mr Robinson said earlier.
Last month, multi-modal logistics operator Samskip also said it was to introduce a weekly Teesport to Zeebrugge service.
Drewry Container Forecaster has been considerably more upbeat in its forecasts for world container shipping volumes following a flurry of positive results and news of investment in new fleet.
Teesport, which is still heavily reliant on bulk traffic, believes a target of 1m teus is easily within its sights.
Meanwhile, it was looking to diversify its land use further with a particular focus on the offshore wind sector.
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