|
|
Bahrain Shipping Report Q2 2010Published by: Business Monitor International Published: Feb. 26, 2010 - 89 Pages Table of Contents
AbstractThe major development within Bahrain's maritime sector over the quarter has been that the new port ofKhalifa Bin Salman Port (KBSP) has placed its rates under revision. The study of the port's fees is beingundertaken by the port's operator, APM Terminals. The operator will then take its proposals to theGeneral Organisation of Seaports (GOP), which as Bahrain's maritime regulation body will study thesuggestions and decide to on whether or not to implement them.BMI notes that the revision of rates by ports during the downturn has been a common strategy. Ports havebeen hit by the downturn in trade and so have implemented revisions of rates (normally downwards) toaid shipping lines and keep or gain their custom. BMI notes that APM Terminals' tariff revision follows news that KBSP has yet to sign a fixedtranshipment deal. In November 2009, Reuters quoted Steen Davidson of APM Terminals saying 'wehave not signed up any fixed trans-shipment business… We have done some ad-hoc business, but wehave not signed up a regular main liner call here.' This is a considerable blow for the port, which was developed to cater for the Middle East's transhipmentmarket, with Al Majed reported by Emirates Business in December 2009 as stating that 'the location ofthe port is a big advantage for Bahrain and the region. The port is strategically located in the middle of theGulf providing access to huge markets in the region such as Saudi Arabia.' Despite KBSP's inability to land any fixed transhipment deals, BMI believes that throughput at the portwill grow in 2010, aided by the fact that the country's total trade is forecast to grow by 1.87% year-onyear(y-o-y). We forecast that KBSP will experience throughput growth in total tonnage of 1.48%, whilecontainer volumes are expected to increase by 2.59%. The KBSP came online in mid-2009, with cargo being transported from the port of Mina Salman toKBSP throughout the year. 2010's figures show an improvement in traffic volumes across the Bahrainimaritime sector as a whole as cargo volumes in 2009 fell by 22.5% from 1.4mn tonnes in 2008 to 1mntonnes handled at both ports in 2009. Container traffic, on the other hand, increased by 3.7%. BMI's Q210 Bahrain Shipping Report not only analyses the environment in Bahrain's shipping market in2010 but looks at developments going forward into the mid term (2011-2014) and considers whether thecountry's trade volumes will increase adequately to allow Bahrain's ports to reclaim their pre-downturnthroughput levels. The report also contains an in-depth analysis of Bahrain's main ports, the Khalifa bin Salman Port and theport of Mina Salman. We offer an overview of the ports' infrastructure, and consider whether they will beable to cope with cargo growth or whether congestion could become an issue. The ports' expansion anddevelopment plans are also reviewed, along with the facilities' links to the rest of the country's freighttransport. The Q210 Bahrain Shipping Report contains detailed company overviews of the top 11 global containerlines. Our shipping desk has prepared an analysis of these companies' varying downturn strategies, andwe offer our views and predictions on what 2010 holds for these lines. Get Full Details About This Report >> |
|
|||
|
About MarketResearch.com
|
||||