mike coop, morningstar investment management s chief investment officer for the emea region. when i was looking at this report i was surprised to see to what degree the north sea oil, why should i be surprised when you think about it, is such a huge part of what is coming and going within the uk ports and that has had a significant impact on what is happening at the moment. it is interesting happening at the moment. it 3 interesting because this shows a decline over a decade and this has happened at a time when the uk, of course, has sought to decarbonise its energy production particularly for electricity. that has been an ongoing reduction in the amount of oil were used to
ever to be impeached. this is bbc world news, the latest headlines: a federal disaster is declared in kentucky after the largest outbreak of tornadoes in american history leaves at least 90 dead, across six states. borisjohnson has ordered an acceleration of the covid booster programme, to combat a tidal wave of omicron. the public have been asked to start working from home again. ports in the uk are heading for their worst year since 1983, according to a report from drewry maritime advisors commissioned by the uk major ports group. declining north sea oil production and brexit has put a large dent in cargo volumes. goods volumes are expected to be 13.5% lower than 2019 at around 408 million tonnes. joining me now is
more this year and next year than they did in the depth of the pandemic and ultimately, those goods are going to have to be brought into the country. so they will be some degree of bounce back from that. but what is also clear is that the effect of the pandemic, in terms of shipping and supply constraint, it means there has been an uneven supply which has created backlogs and that has been exacerbated by brexit, not having an arch enough hgv drivers and in fact, some of the shipping drivers diverging away from uk ports to continental ports and then finding other ways to ring them into the uk. finding other ways to ring them into the uk- into the uk. before i let you uo, into the uk. before i let you go. give into the uk. before i let you go. give us into the uk. before i let you go. give us your into the uk. before i let you go, give us your take - into the uk. before i let you go, give us your take on - into the uk. before i let you | go, give us your take on what this week m
generate electricity here so that has been a really big factor in the reduction over a long period of time. add to that the effect of brexit in terms of disruption and also the pandemic and it is no wonder you have seen that drop off in the last 18 months. there has been a significant drop off although as you say because of the supply chain disruption impacting uk ports as well, this data has been quite skewed to a degree. in terms of recovery, no recovery until something like 2026? 50. until something like 2026? so, disentangling until something like 2026? in, disentangling those until something like 2026? 5r>, disentangling those factors, you would need to, i identified extent to where there has been a cyclical drop off from the effect of the pandemic where you would expect to see some kind of bounce back and indeed, people are clearly consuming