Australia Shipping Report Q2 2015
The headwinds are beginning to circle around the Australian economy and, by extension, the country'sshipping industry, this is especially the case over the short-term. Growth will be muted at the country's mainports in 2015 with the port of Fremantle leading the way in terms of year-on-year (y-o-y) tonnage growth of3.40% and box throughput growth of 3.70%. Meanwhile, the port of Melbourne will finally see positivegrowth return after two years of stagnation. We have decided to stick to last quarter's forecasts across theboard.
In terms of the wider economy, although net exports are now beginning to contribute positively to growth inreal terms - indeed, exports expanded at an 11.3% quarter-on-quarter (q-o-q) seasonally adjusted annual rate(SAAR) in Q3 2014, while imports contracted by 3.7%. However, this merely represents the difficulty thatthe Australian economy will face in rebalancing its external accounts amid deterioration in its terms oftrade.
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