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Croatia Shipping Report Q2 2010Published by: Business Monitor International Published: Feb. 11, 2010 - 93 Pages Table of Contents
AbstractThe quarter has been marked by a positive development in the Croatian maritime sector. The 3 Maj shipyard, which is based in Rijeka, is to complete two chemical tankers for Norwegian ship-owner Utkilen, according to TradeWinds. The company originally placed an order to build three chemical tankers with an Italian shipbuilder Cantiere Navale De Poli, but the shipyard, based in Pellestrina, went bankrupt. The two vessels, of 9,500 deadweight tonnes (DWT) each, are to be completed during the summer-autumn 2010. The source also mentions Croatian press reports saying that the contract includes an option of a third chemical tanker also to be built.This development is especially important for Croatia's shipbuilding industry as it comes at a time when, at the close of the first round of bidding for Croatian shipyards, only two bids have been placed for two of the six shipyards to be privatised. Croatia is privatising its shipyards as part of its road plan to European Union (EU) membership. The country's shipbuilding sector has been propped up by state subsidies, with only Pula-based Uljanik Shipyard making a profit. The EU has ruled that the subsidies are anticompetitive, and so the yards are to be sold. In the Q210 Croatia Shipping Report we forecast an upturn in the country's maritime sector, as trade volumes look set to begin to recover from the downturn of 2009. Imports and exports are expected to increase by 3.7% and 2.9% year-on-year (y-o-y) respectively in 2010, and this will have a knock-on effect at the country's ports, as cargo volumes passing through the ports increase. BMI's shipping team forecasts that one of Croatia's main ports, the port of Rijeka, will experience y-o-y throughput growth in total tonnage of 7.8%, while container volumes are expected to increase by 28.3% in 2010. This is a considerable improvement on 2009 throughput at the port, which due to the downturn in global trade volumes and the decline of Croatia's total trade by 12.3% saw the port of Rijeka's total tonnage fall by an estimated 24.6% to 9.3mn tonnes and the facility's container throughput volumes fall by an estimated 54.5% to 76,713 20-foot equivalent units (TEUs). BMI's Q210 Croatia Shipping Report not only analyses the environment in the Croatian shipping market in 2010, but looks at developments going forward into the mid term (2011-2014) and considers whether the country's trade volumes will increase adequately to allow Croatia's ports to reclaim their pre-downturn throughput levels. The report also contains an in-depth analysis of Croatia's main ports, the port of Rijeka and the port of Ploce. We offer an overview of the ports' infrastructure, and consider whether they will be able to cope with cargo growth or whether congestion could become an issue. The ports' expansion and development plans are also reviewed, along with the facilities' links to the rest of the country's freight transport. The Q210 Croatia Shipping Report contains detailed company overviews of the top 11 global container lines. Our shipping desk has prepared an analysis of these companies' varying downturn strategies, and we offer our views and predictions on what 2010 holds for these lines. Get Full Details About This Report >> |
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