Asia-Pacific container volumes forecast to more than double

Asia-Pacific container volumes forecast to more than double

SINGAPORE (DPA): Asia-Pacific container volumes are forecast to more than double over the next decade requiring 1,342 additional vessels and an investment of nearly US$60 billion, a U.N. study said on Friday.

The preliminary results of the study by the U.N. Economic and Social Commission for Asia and the Pacific (UNESCAP) aimed at assisting developing countries in the region plan maritime strategies were published in the Shipping Times.

The increased volumes will require 427 additional container berths amounting to a $27 billion investment, the study said.

Some 29 per cent or 125 berths will be needed in Southeast Asia, while 30 per cent or 164 required in China.

Barry Cable, the director of UNESCAP's Transport, Communications, Tourism and Infrastructure Development Division, told the newspaper developing countries will find it difficult to compete and maintain a presence in the container market unless they find niches to tap.

"Ports will also have to upgrade efficiency and capacity, find more hinterland connections and market their products and services," he was quoted as saying.

The commission predicted Asia-Pacific volumes of 215.6 million TEUs by 2011, with China handling 45.9 million TEUs, Singapore 28.8 million TEUs and Hong Kong 26.1 million TEUs, lower due to the emergence of Shanghai.

South Korea followed at 21.6 million TEUs, trailed by Japan, Taiwan and Malaysia.

Cable said the forecasts are based on economic growth rates and international trade flows.