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Indiaexportnews.com

HSBC study expects volumes to fall

  15.09.2010    

Shipping lines are expected to incur slower freight rate growth next year compared to this year, according to a report by HSBC Global Research.
The report also said container traffic would to grow 12 per cent this year, but only six per cent next. The bank's researchers also forecasted that average growth in freight rates will be at 17 per cent this year, but only two per cent next year.
"In a typical year, the (freight) sector generates 55 per cent of earnings in the second half, reflecting the timing of the peak season," said the HSBC report.
"On our revised numbers, 48 per cent has been generated in the first half 2010, and 52 per cent is to be generated in the second half. This implies a slowing of momentum in the second half but also that our full year 2010 guidance is prudent," the report said.
It added that in the first half 2010, the global volume of containers handled grew by 15 per cent, air freight by 25 per cent and parcels by eight per cent. But the bank's revised forecasts suggests that sea freight will grow 12 per cent this year, parcels by eight per cent and air freight by 18 per cent.


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