Nigeria Shipping Report Q1 2016
BMI View: In 2016, we anticipate the outperformer in terms of tonnage throughput growth will be PortHarcourt once more, with the facility set to register double-digit gains. With the African giant very muchdependent on oil production as a key export, it is fairly unwelcome news that a decline in proven oilreserves demonstrates the impact of lower levels of exploration activity in the country since 2005.
Exploration will remain slow without significant improvements in regulatory certainty and the securitysituation, which will temper output at Nigerian ports as a result.
Port Harcourt is poised to take the top spot ahead of the port of Sapele (6.24%) and the port of Apapa(5.2%) in 2016. Nigeria's second largest port by tonnage throughput terms, the port of Tincan Island, will,however, see lower y-o-y growth than its domestic peers over the next 12 months, ending the year with y-oygrowth of 2.46%.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook