The new reality of expectations

“Our customers are bleeding, with no solution in sight” cautioned Laursen, citing the steep drop-off in the shipping industry’s container volumes and revenue and the idling of nearly 12% of the world’s container fleet during the past year’s global economic downturn.

The APM Terminals Global Terminal Network has not been immune from the negative effects of the 15% decline in global container throughput this year as compared with 2008, with the company’s container handling dropping by 9%, and terminal development projects reviewed, postponed, and in some cases, cancelled.

The company remains profitable; however, due mainly to the cost saving measures taken to meet the crisis as it emerged in 2008. Recent economic indicators have suggested that recovery has begun, and the IMF and World Bank are projecting a return to modest expansion of global trade particularly in areas where APM Terminals has a strong presence. Unfortunately this recovery is not reflected in the throughput of the company’s terminals yet.