The COVID-19 pandemic could stifle investment in container ports
Аccording to the Global Container Terminal Operators Annual Review and Forecast, by global shipping consultancy Drewry, port capacity expansion is set to contract by 40% over the next five years due to the Coronavirus pandemic.
Global container terminal capacity is projected to grow at an average annual rate of 2.1% over the next five years, equating to an additional 25 million teu a year. This is well below the capacity growth seen over the past decade, when the average annual increase was more than 40 million teu a year.
Port throughput is projected to grow at an average annual rate of 3.5% over this period from 801 million TEU in 2019 to reach 951 million teu by 2024. But risks remain to this outlook should a resurgence in COVID-19 cases cause further widespread economic lockdowns over the forecast period.
As a result of the pandemic, operators and port authorities are actively reviewing delivery of planned projects in the light of the drastic slowdown in economic growth and uncertain short-to-medium-term outlook.
