Global Container Volumes Will See Little Impact from Brexit

The United Kingdom’s decision to exit the European Union is expected to have little direct impact on the containership sector, as the country handles only 1.4 percent of global container volumes, according to Alphaliner.

The country’s market share in terms of port throughput had been in steady decline for over a decade, down from 3 percent in 2000 to a low of only 1.2 percent in 2013.

A small recovery saw the UK regain some of the lost share and the nation’s ports reached an estimated throughput of 9.7 million TEUs in 2015.

The UK’s share of European container throughput has also declined over the same period from 13.9% in 2000 to 8.9% to 2015.

The county’s decline as a maritime centre for the container shipping sector had started long before the Brexit decision, Alphaliner said.

UK-flagged containerships today account for only 3.7 percent of global vessel capacity, while UK-controlled containerships account for as little as 2.2 percent of the global fleet in TEU terms.

Capacity operated by UK carriers is even smaller at 0.2 percent and the last of the nation’s large operators, P&O Container Lines, was merged with Nedlloyd in 1996. The merged entity finally came under Danish control in 2005, when sold to A.P. Moller-Maersk.

In the short term, UK imports are expected to be negatively affected by the strong depreciation of the British Pound, mainly affecting imports from Asia. This could put additional pressure on the fragile recovery of the Asia – Europe trade, Alphaliner added.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2018 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

CWC World LNG & Gas Series: 10th Asia Pacific Summit

Bringing together the key LNG buyers and sellers from across the globe, the Summit provides…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

Defence Safety Conference Supported by The Defence Safety Authority, UK MoD

The Defence Safety Conference is the first of its kind exclusively dedicated to safety across the defence domain…

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >