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Tokyo port to remain country’s largest terminal

Monday, 03 November 2014 16:26

Japan posted a 6.8% fall in GDP in Q2 2014, according to a preliminary reading by the Cabinet Office on August 6 (RTT News).

The figure, which is down from a revised 6.1% increase in Q1 2014, beats expectations of a contraction of 7.1% for the second quarter. Japan’s GDP fell 1.7% quarter-on-quarter in the reported period, beating forecasts for a fall of 1.8%. The figure is down from a revised 1.5% gain in the January-March period.

The Bank of Japan’s policy of trying to generate inflation to spur economic growth continues to backfire, with inflationary pressures building while the economy weakens. This is unlikely to deter them from implementing more monetary stimulus, to the detriment of capital formation, economic growth, and financial stability.

In terms of the shipping picture in Japan, this year will see the Port of Kobe leading the way in annual tonnage throughput growth, but this will be an uninspiring 2.20% and very similar to the country’s other main ports, such as the Port of Nagoya (2.15%) and the Port of Tokyo (2.05%). In purely tonnage terms, the country’s outperformer is the Port of Nagoya with tonnage set to reach more than 212mn tonnes.

Headline Industry Data

- 2014 Port of Nagoya tonnage forecast to grow by 2.15% to reach 212.712mn tonnes, down from 2013′s 2.78% growth rate. Box traffic at the same port will grow by 2.62% to 2.780mn twenty-foot equivalents (TEUs), up from 2.01% in the preceding year.

- The Port of Tokyo will remain Japan’s largest container terminal, with box traffic gaining 1.03% to 4.40mn TEUs in 2014, marginally down from 2.79% growth in 2013.

- The Port of Yokohama will see a 2.00% tonnage growth to 121.553mn tonnes (up from 1.83% contraction in the preceding year) in 2014, and 1.20% container growth to 3.022mn TEUs (up from 5.39% contraction in 2013).

- 2014 total trade growth forecast to expand by 4.65% in real terms. Import growth at 6.50% will exceed exports at 2.80%.

Last modified on Tuesday, 04 November 2014 03:36