Four months of increased cargo volumes is causing optimism. But, experts say, not so fast.
While the latest container trade data suggests container shipping may have entered a real recovery phase, Drewry Shipping Consultants cautions that comparisons with the depth of the recession in 2009 may be misleading.
“Until we see consistent month-on-month improvements on the main trades into this year’s peak season period, we cannot seriously suggest the current global recession is over and that the container sector can heave a sigh of relief,” it said in its latest quarterly Drewry Container Forecaster.
Drewry says it’s too soon to pronounce the industry recession over because of the large number of post-Panamax vessels due for delivery this year and most importantly because most of the trans-Pacific rate contracts have still to be signed.