Lebanon Businessnews News

Bounce in maritime activity
Port activity shores up in 2009 despite a slowdown in global trade
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The sixth annual LSCI index which is calculated by the United Nations Conference on Trade and Development (UNCTAD) studies how well countries are connected to global shipping trends through their access to world markets. 

It measures the maritime transport activity in each country by calculating the number of ships, their total twenty-foot equivalent unit (TEU) carrying capacity, and the number of operating companies. 

UNCTAD mentioned Lebanon as one of the developing countries which have significantly improved their LSCI ranking since 2004, as it “benefited from port reforms since 2006.”

Among its counterparts from the MENA region, the country received an advanced position; It came in the sixth place, unchanged from last year.

The average annual growth in maritime activity was the third highest in the country between 2004 and 2008. It grew at an average of 4.59 percent, during the covered period, UNCTAD said.

Global port activity contracted in 2009 on an impact of a slowdown in global trade due to the financial crisis. But Lebanon managed to improve its score on the index by 2.2 percent in 2009, said UNCTAD. This indicates that it was one the few countries which have bucked the global trend. 

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Date Posted: Dec 16, 2009