CONTAINER volumes at Southampton docks have plummeted ten per cent thanks to the global recession, the Daily Echo understands.

Although the container terminal operator DP World does not release figures for its Southampton operation, port insiders have revealed the steep drop off – equivalent to around 200,000 containers. It brings an abrupt end to years of rapid growth at the facility, the UK’s second biggest container port.

A succession of well-known high street names collapsing because of the recession is also expected to hit the container port, recently renamed Dubai Ports World Southampton, in 2009.

Responsible for 50 per cent of the UK’s trade with the Far East, Southampton has been hard hit by the slowdown in global trade, with the trade between Asia and Europe estimated to be at a 15-year low by Drewry’s ship consultancy in London.

A senior port figure, who did not want to be named, said: “Container business is down ten per cent in 2008 compared with 2007 and all the forecasts are that there will be a further decrease in volumes from Asia to Europe in 2009. It is not a pretty picture.”

No one was available from DP World to comment.

The shrinking of its business is also likely to be a blow to major expansion plans, which envisaged the container port swallowing ten acres of land previously used by vehicle exporters and creating a new berth capable of handling the very biggest ships. It was designed to increase capacity to 3.7 million containers from the current capacity of around 1.8 million.

One of the city’s biggest employers with about 1,000 staff, the container terminal was launched as a jointly owned project, with port owner ABP having 49 per cent and P&O owning 51 per cent. The historic shipping name was then bought by Dubai based DP World for £3.3 billion in 2006.

All other areas of the docks’ core business are also experiencing steep declines, particularly vehicle handling, which has seen a slump of 30 per cent – equivalent to a quarter of a million cars.

Such are the difficulties of the car trade, motor giant Honda is renting 20 acres of docks land just to park unwanted cars.

Meanwhile, unwanted ships, idle because of the slump in world trade, are also providing a welcome boost, with four iron ore bulk carriers paying to moor in the docks and more expected.

Port director Doug Morrison pointed to record levels of investment in the docks and said the city would eventually reap the benefit.

He said: “ For all the years of the booming economy we were riding high on the back of it and I have no doubt that when the recession comes to an end we will be in a great position.”