India Shipping Report Q1 2016
BMI View: We expect growth at India's biggest container ports to remain robust in 2015 and 2016 withtotal trade recovering from negative growth in 2014. Drivers to Indian shipping are strong economicgrowth sustained over the past decade which is increasing domestic consumption and therefore demand forimports, improved trade between countries using Indian ports as transhipment hubs and the country'sconcentration on manufacturing which is boosting export volumes. The major restrain remains congestionat facilities caused by strikes and traffic exceeding handling capacity of ports.
Over the medium term 2015-2019 we anticipate average real growth in trade at 4.23% and containerthroughput growth at the ports of Chennai and Jawaharlal at 4.1% and 2.6% respectively. We expectinfrastructure and logistical improvements at ports enabling facilities to accommodate this growth andattract shipping companies to use the country's ports as calling points. Furthermore our forecasts indicatethat GPD growth will average at 7.0% over the medium term supporting shipping activity in India.
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