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United Arab Emirates Shipping Report Q3 2009Published by: Business Monitor International Published: Jul. 1, 2009 - 86 Pages Table of Contents
AbstractThe major development within the UAE's maritime sector over the quarter is the news that one of theemirates' main shipping companies, Gulf Energy Maritime, is continuing its fleet expansion despite thedownturn in trade volumes and has taken delivery of its third newly built vessel this quarter. Thecompany is expecting three more new builds to be delivered over the rest of 2009.BMI predicts that the UAE's maritime sector will not be hit as hard by the downturn as some of its peers,and we forecast that throughput growth at the country's ports will slow rather than decline. In May 2009we reported that Q109 data from the port of Mina Zayad in Dubai showed a growth of 19%. Over thewhole year, BMI forecasts that the port's total throughput will grow by 2.9%, down from the 91.1%growth that the facility recorded in 2008. The UAE's other main port, Jebel Ali, is expected to fare slightly better, with container throughput set togrow by 9% in 2009. The port is now the main facility in Dubai since the operations of the port of Rashidwere transferred to it. BMI predicts that throughput at both ports will pick up again in 2010 and continue to increase over themid term (2010-2013). This trend mirrors that of the UAE's trade sector as a whole. We predict that thecountry's imports will grow by 3% in 2009, while exports will decline by 4.2%. Trade will start to pick upagain in 2010 when total trade is expected to increase by 7.6%. An annual average total trade growth of8.1% is forecast for the rest of the mid-term. As well as an in-depth analysis of the UAE's shipping sector, BMI's Q309 UAE Shipping Report offers aglobal overview of the dry bulk, liquid bulk and container sectors, and overviews of the 11 largestshipping lines and their strategies over the quarter to weather the downturn in trade volumes. Get Full Details About This Report >> |
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