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Nigeria Shipping Report Q3 2009Published by: Business Monitor International Published: Jul. 10, 2009 - 83 Pages Table of Contents
AbstractThe major development within Nigeria's maritime sector over the past quarter was the news thatcongestion - despite the global downturn in trade - is still affecting Nigeria's main port in Lagos. In April2009 we reported that the transfer of 2,000 containers from Lagos to the port of Onne had begun, the ideabeing that containers that had been stored in Lagos' storage areas would be removed to another facility,thereby freeing up space at the port.The tactic appears not to have worked as in May 2009 Business Day Online reported that 28 ships wereawaiting berth at Lagos. BMI believes that although congestion has continued in 2009, the volume ofships waiting to berth has dropped compared with last year. BMI notes that the reason for this is not thevarious tactics that have been employed to combat the congestion, such as moving containers to otherfacilities, but rather the decrease in trade volumes to and from Nigeria. BMI forecasts that total tonnage throughput at Lagos is set to fall from 19.5mn tonnes in 2008 to 19.2mntonnes in 2009 - a drop of 1.73% year on year (y-o-y). This fall in trade stems from the decline inNigeria's forecast total import and export volumes in 2009. BMI estimates that although Nigeria's importsare set to grow by 4.95% in 2009, the county's exports are set to fall by 11.46%. This fall in tradevolumes should ease the pressure of congestion at the nation's ports, although BMI warns that with totalthroughput at the ports of Lagos expected to increase by 1.78% in 2010 the easing will be short lived. As well as an in-depth analysis of Nigeria's shipping sector BMI's Q309 Nigeria 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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