In Hong Kong, the Marine Department estimates that throughput for its port, in the first quarter of 2016, was off 11% from the first three months of 2015. Singapore also had a miserable 2015, with full year throughput volumes falling 8.7%, according to the Maritime and Port Authority of Singapore.
As such the outlook for 2016 remains uncertain. Trade growth in both the Asia-Pacific and Europe is expected to stay basically flat, with unceasing overcapacity in the sector that is not going to go away any time soon. #MergentInc #industryreports #shipping @MergentInc