Japanese ports’ international container trade is set to shrink further this year, according to Nittsu Research Institute and Consulting Inc (NRIC).
At eight leading Japanese ports, traffic will drop for the second straight year in fiscal 2015, which started in April, sagging 1.3% to 11.867 million teu, said NRIC.
NRIC is a subsidiary of Nippon Express Co, Japan’s largest international freight forwarder, also known in the country as Nittsu.
In fiscal 2015, loaded container cargo exports from the eight ports will edge down 0.3% year on year (y/y) to 4.910 million teu, while loaded container cargo imports will decline 2.1% y/y to 6.957 million teu, the institute predicts.
NRIC’s bearish outlook comes as exports slip amid an economic slowdown in China and other emerging markets. Imports are also sluggish due to a delayed recovery in domestic consumption after a sales tax hike in 2014.
In fiscal 2014, international container traffic at the eight major Japanese ports dropped 1.1% y/y to 12.027 million teu. Exports gained 1.0% to 4.923 million teu, while imports fell 2.6% to 7.104 million teu.
NRIC’s forecast covers the ports of Tokyo, Yokohama, Nagoya, Osaka, and Kobe, which together account for nearly 90% of the nation’s international containerised cargo trade, as well as the ports of Shimizu, Yokkaichi, and Hakata.