Antwerp box volume up 4.7pc to 8.9 million TEU in 2014

BELGIUM's Port of Antwerp posted a 4.3 per cent year-on-year increase in total cargo throughput to 199 million tonnes 2014, saying the increase was driven by 4.7 per cent gain in container volume to 8.9 million TEU.

Antwerp also enjoyed a 5.6 per cent increase in liquid bulk, despite a two per cent drop in conventional breakbulk and a 6.1 per cent decline in dry bulk.

Gains came with 62.8 million tons of liquid bulk, with petroleum derivatives rising 6.8 per cent to 46 million tonnes, crude oil up 6.5 per cent to 4.9 million tonnes and chemicals increasing 1.5 per cent to 11 million tonnes.

But dry bulk was down with coal falling 34.9 per cent to 1.4 million tonnes. Ro-ro decreased two per cent to 4.4 million tonnes, and the number of cars fell 8.1 per cent to one million units. Conventional breakbulk, too, was down by two to 9.8 million tonnes.

Antwerp reports that 1.5 per cent fewer ships called in 2014 than in the year before, a total of 14,009, although tonnage increased 1.7 per cent by 335 gross tonnes.

The number of ultra-large container vessels (ULCVs) calling increased by 68 per cent year-on-year to 266. In particular, 82 more vessels of 13,000 TEU or more called at the port.

Global indicators point to trade growth buoyed US recovery while EU gathers strength

Key to immediate global trade growth is the state of the US economy, writes Peter Hall, vice president of Canada's trade credit, agency Export Development Canada. For the moment, he says, performance is consistently robust.

But this take-off is particularly nerve-wracking, given the significant delays. It's essential to focus on what's coming, and we are training our sights on the US Composite Leading Indicator. In particular, we are keeping a close eye on the progress of the housing market and the orders being placed by consumers and businesses for bigger-ticket items.

America is the linchpin of the recovery, but it can't do it on its own. Europe's economy is just as big, and it's going to have to do its part if the world hopes to see a true growth revival this year. Germany is the engine of the Zone, and it's largely going to be up to business. We've keeping our eyes on the Ifo Business Expectations barometer, and also the ZEW indicator of macroeconomic expectations. Both gauges tumbled through much of 2014, but rallied late in the year, surprising to the upside. It's the first sign in awhile that German businesses are seeing through the recent mayhem to better times.

A key prescient indicator at any moment in the economy's voyage is the attitude of industrial buyers. These are the "nerves-of-steel" front-liners who have to purchase materials in advance of production, and their opinions, tabulated in the Purchasing Managers Index for a widening array of countries, really count. They are bullish on the US, and are exercising varying degrees of cautious optimism just about everywhere else. Look to these indexes to confirm or deny true recovery this year.

Our eyes are also on industrial capacity indicators. These are normally backward-looking, but this time around, the multi-year capital spending doldrums have tightened capacity in many key locations. Money isn't the issue; corporations are cash-rich, so when they decide it's time to spend, it's likely to be big.