17.08.2009

Port of London First Half 2009 Trade falls 16%

The Port of London Authority (PLA) has announced that trade through the Port of London fell by 16 per cent or four million tonnes in the first half of 2009 compared to the same period in 2008

The largest decline was in the tonnage of unitised goods, which were down by almost a quarter, or two million tonnes.  Coal shipments were almost down by more than a fifth.  Oil trades were most resilient, falling by some nine percent.

PLA chief executive, Richard Everitt, said:

"The performance of the Port is closely linked to the health of the economy and the fall in economic activity has inevitably depressed port trade.  London handles a diverse range of goods and this has helped offset the worst effects of recession.  It is too early to say whether we are starting to turn a corner in port trade.  During July, ship numbers were up by 40 compared to June, but still 100 lower than June 2008. 

"The fundamental attractions of the Port, on the doorstep of the UK's main centre of economic activity and population continue to attract customers.  Over the next few years that core demand is going to be underpinned by preparations for the Olympics and major infrastructure projects such as Crossrail."

Port trade comparison: Jan to June 2008 vs. Jan to June 2009 (million tonnes)

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