Brazil Shipping Report Q1 2016
BMI View: In 2016, we expect to see Brazil's shipping sector see y-o-y decreases in both tonnage and boxthroughput terms as the malaise affecting the wider economy begins to bite across the board. Lowcommodity prices and weak international demand will keep Brazilian exports down, at least over the shortterm. Imports will not fall enough to significantly counteract declining exports due to a lack of domesticproduction for consumer and capital goods, ensuring that the current account remains wide by historicalstandards.
The outperforming port in container growth terms is set to be the port of Rio in 2016, with a y-o-y increaseof 6.47%, while the tonnage sphere is forecast to grow by an impressive 15.31% at the port of Suape.
Although growth at all of Brazil's main ports is set to be relatively healthy, the ports of Santos and Itajaí(the country's two largest) will both see y-o-y growth drop over the next 12 months.
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