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Egypt Shipping Report Q4 2009Published by: Business Monitor International Published: Aug. 9, 2009 - 91 Pages Table of Contents
Abstract2009 has been a tough year for the shipping sector. Container freight rates have plunged, with industryobservers issuing profit warnings for container lines' full-year results. The liquid bulk sector has remainedafloat as tankers have been used for oil storage purposes. Dry bulk shipping fortunes have fluctuated fromall-time lows, to showing a steady recovery, to dipping once more as the sector's fortunes have becomeincreasingly tied to China's raw-material needs.For the Q409 Egypt Shipping Report we have reviewed our forecast data for total tonnage throughput andcontainer volumes for 2009 taking into account the most recent throughput data from Egypt's ministry oftransport. We have revised our 2009 throughput predictions for the nation's main ports. Using the port ofAlexandria as an example, the port that caters for approximately 60% of Egypt's foreign trade, BMI hasrevised is 2009 forecasts. We predict that the port's total tonnage will increase by 5.91% to 21.5mntonnes, while the facility's container volumes are expected to decrease by 0.01% to 548,073%As 2009 draws to a close BMI answers the question of what is next for Egypt's shipping sector. Wepredict a steady growth in trade volumes until 2013. Again using the port of Alexandria as an example,we forecast that the facility's total tonnage throughput will increase by 0.05%in 2010 with containervolumes growing slightly as well by a projected 0.5%. Over the rest of the mid term we forecast that growth will remain low but steady, with Alexandriaforecasted to see tonnage growth volumes of 0.13% on average per year between 2011 and 2013.Container volume growth is expected to be higher, with an average yearly growth of 1.60% forecast,which if realised will enable the port to reach container volumes of 577,583TEUs by the end of our midtermforecasting window. Egypt's port recovery is reliant upon the country's trade volumes. For the whole of 2009 BMI expects thenation's total trade to decrease by 4%. A gradual recovery is predicted for 2010 when Egypt's total trade isforecast to grow by 1.44%. Over the mid-term period of 2011 to 2013 BMI forecasts that the country'simports will grow by a yearly average of 3%, while the country's exports will increase on average by3.67% per year. This trade recovery will see Egypt's imports and export worth increase to US$62.44bn and US$29.82bn,respectively, by 2013. BMI does not expect the country's main trade partners of the US, China, Italy,Spain, Saudi Arabia, Germany and Syria to change drastically over the mid term. Get Full Details About This Report >> |
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