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Egypt Freight Transportation Report Q2 2008Published by: Business Monitor International Published: May. 28, 2008 - 53 Pages Table of Contents
AbstractIn November Egyptian Prime Minister Ahmed Nazef laid the foundation stone for phase two of thecontainer dock expansion programme at eastern Port Said Harbour, according to news agency MENA.Transport minister Mohamed Mansour said phase one had involved investing US$250mn, while for anadditional US$490mn to be spent through the Suez Canal Container Terminal (SCCT) phase two woulddouble the length of the container dock to 2.9km. Phase one had made eastern Port Said harbour the thirdlargest container terminal in the Middle East and Mediterranean. The total number of containers handledwas expected to rise to 5.5mn within a year, with the revenues of the Port Said Port Authority rising from US$18.18mn in 2007 to US$43.6mn by 2012. According to Mansour, 30% of the world’s containers and13% of world transit trade passed through Port Said East Port, making it one of the four most importanthub ports in the world. In our latest Egypt Freight Transport Report, BMI concludes that shipping trafficwill rise by an annual average of 7.1% in the 2008-2012 forecast period, ahead of Egypt’s general rate ofeconomic growth, which we project at 5.5%.Various factors support this prediction. Global trade will continue expanding despite the expected coolingin the US economy this year. Specifically Egyptian trade will be boosted by increasing gas and LNGexports. Greater port capacity will also play a part. Overall BMI is forecasting moderate growth indomestic freight transport sectors between 2008 and 2012. While the government has declared itsintentions to improve all aspects of the transport infrastructure, these plans are long-term and the benefitsare unlikely to make a major difference to the freight transport industry until beyond the forecast period.As a result, the industry will have to continue to make use of the existing facilities for several years.Egypt scores a total of 52.9 (out of a theoretical maximum of 100) in our freight ratings. The country’sstrong points are economic and political risk and the competitive environment, at least with reference toits peers. Areas for improvement include infrastructure, freight growth, transport intensity (a measure ofthe dynamism of foreign trade) and the regulatory environment. The total value of transport andcommunications GDP will rise to US$18.2bn in nominal terms by 2012, representing 8.8% of Egypt’s GDP. The transport and communications sector employed 1.24mn people, or 6.4% of the labour force, in2007. We see the figure rising to 1.34mn people by 2012, although it will remain stable as a proportion ofthe total workforce at 6.4%. Get Full Details About This Report >> |
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