Australia Shipping Report Q4 2015
BMI View: In tandem with the wider economy, Australia's shipping industry will not see huge strides interms of y-o-y growth, but it will nonetheless enjoy modest gains over the medium term. While theAustralian economy continued to slow in Q1 2015, we maintain our 2015 real GDP growth forecast of 2.3%(versus 2.7% in 2014) - the country's main ports are set to post modest gains, led by the Port of Melbourne(tonnage growth) and Brisbane (container growth).
We caution that the country's worsening terms of trade and unwinding investment boom continue to act asmajor headwinds to growth. The total value of services exports is now slightly greater than that of iron oreexports, given the sharp decline in commodity prices despite surging volumes, and this divergence willincrease over the coming years. This is not welcome news to the shipping industry considering how integralthe transportation abroad of iron ore is to the Australian shipping industry - Australia's top export is ironore, while gold is also in the top five, according to the Observatory of Economic Complexity.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook