World trade by all modes of transportation – sea, air and land – will grow 8.1 per cent in 2010 and 6.9 per cent in 2011, following a 7.2 per cent decline in 2009, according to the latest forecast from IHS Global Insight’s World Trade Service.
International trade volumes will continue to increase on pace with the global economic recovery, according to the Second Quarter Trends in World Economy and Trade report from the IHS Global Insight World Trade Service.
The outlook for bulk shipping is also improving following a decline of 2.8 per cent in bulk commodity trade in 2009. IHS Global Insight forecasts bulk commodities to grow in 2010 through 2011. The Baltic Dry Index has been steadily increasing since the beginning of the year, and seasonal demand should also boost bulk exports over the next quarter.
Dry bulk commodity shipment tonnage, which includes grain, iron ore, and coal, will increase 10.3 per cent in 2010 and 8.7 per cent in 2011.