The overall growth of global ports slowed down in the first quarter of the year, with weak productivity amid a slowing world economy. The second quarter will see global trade and port production continuing its slow pace of recovery from the 2008 economic downturn.
This according to the Shanghai International Shipping Institute (Sisi) in its recently released Global Ports Development Report 1Q15, citing monetary policy differences between the US and Europe, geopolitical conflicts and trade protectionism as some of the reasons for the ongoing sluggishness.
Year on year growth of global port throughput was 1.8% in Q1, the lowest in the past five years.
According to Sisi, the European market actually sped up its recovery, but the overall performance of developed economies presented a downtrend due to stagnant US growth. Emerging markets, led by Asia, also experienced slow growth.
Port growth slows down in Q1 2015
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