News
Oceangoing containerized shipments on the North America, Europe and intra-Asia trades are projected to increase 7.8% from last year to a total of 99.322 million TEUs this year, according to a recent report on supply and demand trends in the logistics sector. Unveiled by Mizuho Bank, Ltd., the report also indicates they will slow down in 2022 in reaction to their favorable development in 2021, only growing a milder 1.4% to 100.667 million TEUs. The megabank also anticipates that global container movement will stay on an upward trend in and after 2023 in line with economic expansions in countries and regions. As such, Mizuho thinks that it will continue to rise from 2021 through 2026 at an annual rate of 2.9%.
On the eastbound route from Asia to North America, Mizuho Bank’s Industry Research Department, which has compiled the report, foresees that 21.364 million TEUs of containers will be transported in 2021, surging 16.1% from 2020. Nevertheless, it envisages that container movement on the route will shrink 3.4% to 20.646 million TEUs in 2022, but that thanks to the growth of the U.S. economy, it will continue to swell mildly over the five years through 2026 at an annual rate of 2%.
The Industry Research Department expects that westbound freight movement from Asia to Europe will improve 7.2% to 16.91 million TEUs this year, rebounding from the poor performance that it gave last year due to the coronavirus pandemic. It will, however, only enlarge a weaker 1.2% to 17.069 million TEUs next year, the department says. Forecasting the European economy will remain brisk in and after 2022, it sees that containers to the region will continue to rise over the next five years at an annual rate of 2.8% on average.
The Mizuho report expects that intra-Asia containers will strengthen 7.4% to 46.395 million TEUs this year and 3.5% to 48.02 million TEUs next year. It is predicted they will continue to swell through 2026 at an average annual rate of 3.4%.
