Solid growth forecast for sea freight

A new government report forecasts sustained growth in containerised trade through Australian ports over the next two decades

In a promising sign for the Australian road freight industry, a new government report has projected both containerised and non-containerised trade through Australia's port will grow by 5.1 and 3.9 per cent respectively over the next 20 years.

The new 94-page report, Containerised and non-containerised trade through Australian ports to 2032/33, released by the Bureau of Infrastructure, Transport, and Regional Economics (BITRE), predicts that Australia's sea trade will double over the period in question, the growth based predominantly on the positive economic outlook shared by Australia and its major trading partners.

The report suggests that total containerised trade, which is roughly split evenly between imports and exports, will grow from the 7.2 million 20-foot equivalents units (TEUs) recorded in 2012/13 to a predicted 19.4 million TEUs in 2032/33.

Containerised trade is expected to grow annually by 6.2 per cent in Brisbane, 4.5 per cent in Sydney, 4.8 per cent in Melbourne, 5.4 per cent in Adelaide, 5.8 per cent in Fremantle and 5.1 per cent across all other Australian ports.

The projected growth is, however, slightly lower than the containerised and non-containerised trade recorded over the last 14 years of 6.5 and 5.5 per cent respectively. BITRE says the projected figures are slightly softer due to the expected slower rate economic growth of Australia and its trading partners, compared to past years.

Slowing rate of economic growth or not, the projections are welcome news for Australia's truck and road freight industries, with a sustained increase in sea trade ultimately providing more work for road transport operators and further demand for new trucks.

Solid growth forecast for sea freight

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