South Africa Shipping Report Q2 2015
BMI View: We forecast positive growth across South Africa's ports in 2015, following a decline at manyfacilities in 2014. High levels of unemployment and negative sentiment have been weighing on consumerdemand, but we expect that a fall in the price of oil will boost household spending in 2015. While demandwill still be far from robust, it will nevertheless not see a dip. In terms of gross tonnage volumes, coal willcontinue to be the primary driver of growth, although the slowdown in China does present some risk to this.
Headline Industry Data
Richards Bay Port tonnage throughput in 2015 is forecast to return to growth at 2.0% following a declinein 2014. Over the medium term to 2019 we project a 2.2% average annual increase.
Port of Durban container throughput is forecast to grow by 2.5% in 2015. Growth will average 3.2% perannum in the medium-term forecast period to 2019.
2015 total trade growth is forecast at 4.3%, and will average 4.4% per annum to 2019.
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