Thailand Shipping Report Q1 2016
BMI View: We expect continued robust growth at Thai ports in 2016, but this is down as much to the baseeffects of a developing economy and investment in the countries ports rather than a strong outlook for thecountry on an economic and political basis. The military junta will now be in power until 2017, and, as aresult, political tensions will continue to weigh on the investment climate, and consumer and capitalspending on containerised imports will be hit. On the exports front, these have been falling thanks to lowcommodity prices globally.
Headline Industry Data
Gross tonnage at Laem Chabang, Thailand's largest port, is set to rise by 3.0% to 75.64mn tonnes in2016, and will average growth of 4.1% a year over our medium-term forecast period to 2020. 2017growth will be 4.7%.
Box handling at the same port will rise 5.6% to 7.44mn twenty-foot equivalent units (TEUs) in 2016, andwill grow by an average of 5.4% annually over the medium term. 2017 growth will be 5.5%.
At the port of Bangkok, BMI projects that tonnage will grow by 4.9% in 2016, to 23.78mn tonnes, withcontainer handling set to grow by 4.3%, to 1.70mn TEUs.
We expect total foreign trade to see real growth of 5.2% in 2016 and 5.1% in 2017.
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