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Latvia 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 Latvia's port sector. Russian chemical giant United Chemical Company URALCHEM (URALCHEM) has announced a joint venture (JV) for the construction of a dry bulk fertiliser terminal with Latvia's Freeport of Riga. The planned terminal will provide the Russian chemical producer with an export facility for the shipment of its products into Europe, and will enable the port of Riga to diversify its cargo throughput.The new terminal, which is to be built at the port of Riga, is currently at the design stage. The terminal's first stage of development is expected to take 15 months and is due online in 2012 with a projected throughput volume of 2mn tonnes. A second stage expansion is also under consideration, which would see the throughput of the dry bulk fertiliser terminal increased to 5mn tonnes. BMI believes that the planned terminal will have a positive impact on the port of Riga, as it will further diversify the cargo that the port caters for. In the Q210 Latvia 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 1.5% year-on-year (y-o-y) 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 Latvia's main ports, the port of Riga, will experience a projected y-o-y throughput growth in total tonnage of 0.8%, while container volumes are expected to increase by 0.5% in 2010. This is an improvement on 2009 throughput at the port, which because of the downturn in global trade volumes and the decline of Latvia's total trade by 30.8% saw the port of Riga's total tonnage increase by just 0.5% to 29.7mn tonnes and the facility's container throughput volumes fall by 11.7% to 182,980 20- foot equivalent units (TEUs). BMI's Q210 Latvia Shipping Report not only analyses the environment in the Latvian 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 Latvia's ports to reclaim their pre-downturn throughput levels. The report also contains an in-depth analysis of Latvia's main ports, the port of Riga and the port of Ventspils. 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 Latvia 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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