Australia Shipping Report Q3 2015
We have barely altered last quarter's forecast for Australia's shipping industry, with just minor alterations tothe Port of Sydney's tonnage throughput projections. In terms of the wider economy, BMI forecastsAustralia's real GDP growth to average 2.3% per annum over the next decade, down from 2.9% over thepast decade, as the combined headwinds of slowing population growth, greater government spending,declining terms of trade and heightened deflations risks weigh on economic activity. With this in mind,Australia's shipping industry will not see huge strides in terms of year-on-year (y-o-y) growth, but it willnonetheless enjoy modest gains over the medium term.
The port of Fremantle leading the way in terms of both y-o-y tonnage growth (3.40%) and box throughputgrowth (3.70%) in Australia in 2015. Meanwhile, the port of Melbourne will see muted growth after twoyears of stagnation while the port of Sydney will see accelerating tonnage throughput growth and slowingbox throughput growth.
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