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Kuwait Shipping Report Q4 2009Published by: Business Monitor International Published: Sep. 4, 2009 - 89 Pages Table of Contents
AbstractThe year 2009 has been a tough year one for the shipping sector: container freight rates have plunged,with industry observers issuing profit warnings for container lines' full-year results. The liquid-bulk sectorhas remained afloat, as tankers have been used for oil storage purposes. Dry-bulk shipping fortunes havefluctuated from all-time lows, to showing a steady recovery, to dipping once more, as the sector's fortuneshave become increasingly tied to China's raw material needs.For our Q409 Kuwait Shipping Report BMI poses the question: as 2009 draws to a close, what does 2010hold for the country's shipping sector? Throughput at Kuwait's ports is expected to take a battering in2009 as the country's total trade declines by 4.36%. BMI estimates that at the ports of Shuaiba andShuwaikh, total tonnage will decline by 6.24% and 7.05%, respectively, with container volumes at theport of Shuaiba set to fall by 4.19% and box volumes at Shuwaikh expected to decline by 8.63%. The year 2010 will see throughput at the port begin a recovery on the back of a predicted upturn in globaltrade. We forecast that in 2010 total tonnage at the port of Shuaiba will increase by 2.95%, with containervolumes at the facility growing by 1.94%. In the case of the port of Shuwaikh, BMI forecasts that totaltonnage throughput at the port will grow by 3.36% in 2010, with the port's container throughput predictedto increase by 4.18%. BMI has also calculated expected throughput volumes at the ports for the rest of the mid-term (2011-2013). For the country's two main ports we predict average yearly changes in total tonnage throughputand container volumes for this period. This allows us to predict whether or not these changes will enablethe ports to reclaim their pre-downturn levels of tonnage throughput and to reverse the port's 2009container decline during our forecast period. Kuwait's port recovery is reliant on a revival in Kuwait's trade volumes. For the whole of 2009, BMIexpects Kuwait's imports to decline by 1.75% and its exports to fall by 6.19%. A gradual recovery isforecast to begin in 2010, with total trade forecast to grow by 2.02%. Also in this report, BMI predictsaverage yearly change in the country's total trade over the rest of the mid-term (2011-2013). BMI does not expect the country's main trade partners of the US, Japan, South Korea, Germany, China,Singapore and Saudi Arabia to change dramatically over the mid-term. Get Full Details About This Report >> |
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