WE, in the port industry, began to realise last year that the United States was already in recession, as I had stated in one of my previous articles. By June, it was abundantly clear that exports to Europe were declining especially from the Far East. Most of the ports were at their highest volumes in June to July 2008 and then began declining, which rapidly deteriorated into a major global slump and recession.
During the last five weeks, we at Westports have seen a recovery of the volumes and at the end of March 2009, we were able to handle 355,000 TEUs per month.
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