THE North Pacific will surpass the North Atlantic in trade volume by 2050, says an Organisation for Economic Co-operation and Development (OECD) agency report.
The OECD's International Transport Forum Outlook (ITF) 2015 predicts that freight volume will quadruple in 30 years.
From lower base numbers, the ITF report also predicted that African trade will grow by 715 per cent and intra-Asian volume by 403 per cent.
The North Pacific routes will surpass the North Atlantic as the world's busiest trading corridor in terms of freight volume per tonne-mile, growing 100 per cent faster than the North Atlantic.
ITF Secretary-General Jose Viegas called for improved capacity management, as many freight facilities are being underutilised. Secondly, he called for investment in missing links, so more alternative and multi-modal connections can increase efficiency.
Mr Viegas said there must be more preparation for increases in containership and other vessel size. This calls for increases in infrastructure to handle larger vessels and improvement in port to hinterland connections.
Source : SN-TR, 09.02.15.