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Greece Shipping Report Q3 2009Published by: Business Monitor International Published: Jul. 10, 2009 - 88 Pages Table of Contents
AbstractThe port authority of Thessaloniki, Greece's second largest port, has recently published its results forJanuary-May 2009. According to the data, the port handled 5.9mn tonnes of cargo or 8.6% less thanduring the same period of the previous year. This latest data indicates that BMI's full-year forecast for theport of Thessaloniki is on track to be realised, as we predict that throughput tonnage at the facility willfall by 8.12%, year-on-year.BMI believes that for the full year of 2009 throughput trends at Greece's ports will follow the pattern ofthe country's trade sector. We predict that both imports and exports will fall by 3% in 2009. A recovery isset to begin in 2010 with total trade growth forecast to increase by 3%. An average yearly growth of 3.5%between 2011 and 2013 is predicted after that. In 2009, we expect total throughput at the port of Piraeus to decrease to 10.1mn tonnes, representing anestimated 2.89% fall on 2008, when the port experienced a steep decline due to dockworkers' strikes. Weanticipate the slow recovery of throughput volumes to start in 2010. In the mid-term (2011-2013) weexpect handling to increase by 2.1% per year on average and not to exceed its pre-downturn and prestrikeresults. According to our forecasts, in 2013 port's throughput will amount to just 11.1mn tonnes,compared with the 20.1mn tonnes that were handled in 2007. Container handling in 2009, according to our estimates, will fall by 10.8% in 2009 to 384,276 TEUsfollowing the disappointing strikes-affected 2008 decline of 68.6%. The recovery will start in 2010, andin 2011 the port will surpass its 2008 handling figure of 431,000 TEUs. In the mid-term, between 2011and 2013, growth will continue by 5.6% per year on average. In 2013, we expect the port to handle492,924 TEUs, compared with the 1.37mn TEUs that it handled in 2007. As well as an in-depth analysis of Greece's shipping sector, BMI's Q309 Greece 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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