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Nigeria Shipping Report Q4 2009Published by: Business Monitor International Published: Sep. 25, 2009 - 86 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 fluctuatedfrom all-time lows, to showing a steady recovery, to dipping once more, as the sector's fortunes havebecome increasingly tied to China's raw material needs.As 2009 draws to a close, BMI's Q409 Nigeria Shipping Report poses the question of what 2010 holdsfor the country's shipping sector. Throughput growth at Nigeria's ports is expected to slow in 2009, as thecountry's total trade grows by just 0.25%. BMI estimates the growth at the country's ports of Lagos andTincan Island will grow by just 0.76% and 0.75% respectively. 2010 will see more substantial growth figures, on the back of a predicted upturn in global trade. Weforecast that in 2010 total tonnage at the port of Lagos will grow by 6.71% while tonnage at the port ofTincan Island will increase by 12.16%. BMI has also calculated the expected throughput volumes at Nigeria's ports for the rest of the mid term(2011-2013). For the country's main ports we predict average yearly changes in the total tonnage for theperiod. This allows us to predict the growth trends at the port for the next five years. Nigeria's port throughput growth is reliant upon trade volume increases. For the whole of 2009 Nigeria'simports are expected to post 8.14% growth, while the country's exports are set to decline by 11.46%. Agradual recovery in Nigeria's total trade is expected to begin in 2010, with trade expected to increase by1.88%. Also in this report, BMI predicts average yearly change in the country's total trade over the rest ofthe mid term (2011-2013). Get Full Details About This Report >> |
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