The World Bank’s Global Economic Prospects 2014 report, released last week, projects a sharp increase in the projected annual growth rates for the volume of world trade for the next three years, which the geographically balanced APM Terminals Global Terminal Network is notably well-suited to accommodate, APM Terminals said.
The overall global economic growth rate has been forecast to rise to 3.4% in 2015 and 3.5% in 2016, from a 2.8% revised GDP growth rate projected for 2012, driven by ongoing economic recovery in what the World Bank defines as “high income” countries such as the United States, and the Euro- area nations of Western Europe.
Import growth for these countries is predicted to surge from 1.9% in 2013 to 4.2% this year and as much as 5% in 2015.
“Several port and terminal operating companies may have a global presence, but the APM Terminals Global Terminal Network is the only port and terminal portfolio which combines a broad geographic balance with the demonstrated ability to handle customers’ needs around the world,” said APM Terminals Chief Operating Officer Jeff De Best, who joined the company in April.
According to the company, at present, APM Terminals is the leading terminal operator in North America, with operations or interests in nine US ports, including APM Terminals Pier 400 in Los Angeles, the world’s largest proprietary container terminal, which handled 2 million TEUs in 2013.
In Western Europe, the portfolio includes operations or interests in 12 facilities in nine countries, with new terminals currently in development in Rotterdam, Netherlands, and Savona- Vado, Italy. American operations accounted for 15.7% of the company’s container volume in 2013 (by equity share), with Western Europe and Scandinavian operations representing 27.5%.
The World Bank projects high-income nations’ trade to increase in value (in constant 2010 USD) by 3.6%, 4.7% and 4.9% annually between 2014 and 2016, respectively, while trade for developing countries expands at corresponding rates of 5.5%, 6.4% and 6.6% over the next three years.
Industry analysts have predicted overall annual global container throughput growth rates of 4.7% this year, rising to 5.7% in 2015.
“While underserved emerging markets remain a priority for APM Terminals’ strategic investments, our existing portfolio is ready now to handle the expected trade growth in mature markets which will be crucial to global economic recovery,” said Mr. De Best.
Press Release, June 24, 2014