New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 07/25/2013 -- Following a year which BMI believes saw decreasing freight volumes, 2013 will signal further decline in all freight modes, albeit at a slower pace.
Total trade is projected to pick up with our Country Risk desk forecasting a year-on-year (y-o-y) increase of 0.60% in 2013, following a growth of 1.11% in 2012.
Road freight is to continue to dominate the sector even though it is projected to decline marginally by 0.4% in 2013. Nevertheless, to the end of our forecast period to 2017, we expect the sector to defy the European Union (EU) pledges of a decrease in road haulage across the region. That is not to say, however, that road freight's market share is safe.
BMI notes that rail is the likeliest candidate in Hungary's freight transport mix to benefit from any diversification away from road. The government of Hungary decided to construct a 113km railroad to reduce freight transit times across the country.
Headline Industry Data
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- 2013 Air freight tonnage is expected to decrease by 0.9%
- 2013 Rail freight is forecast to decrease by 0.7%
- 2013 Road freight is forecast to decrease by 0.4%
- 2013 Inland waterway freight is forecast to decrease by 0.5%
- 2013 Total real trade growth is forecast at 0.6%
Key Industry Trends
RCH Signs Long-Term Contract and Launches Block Train: Rail Cargo Hungaria (RCH) secured a long-term contract with one of its major clients, chemicals producer BorsodChem Zrt. at the end of April. Earlier, RCH's subsidiary Rail Cargo Carrier Kft. (RCC) launched its first block train, cutting to 10 hours the time it takes to deliver containers from the Hungarian capital to Curtici in the west of Romania.
Government To Build Railroad To Cut Freight Transit Times: The Hungarian government will construct a 113km railroad to reduce freight transit times across the country from the present four to five days to one day. The line will bypass Budapest in the south, connecting existing rail lines from the eastern borders with Ukraine and Romania to the western border with Austria.
Hungary Partners with Waberer's: Hungarian Ministry of National Economy signed a Strategic Partnership Agreement with logistics service provider Waberer's International.
Risks to Outlook
The continued deterioration in economic activity in the eurozone, combined with still declining domestic demand, credit conditions remaining tight and fixed capital formation maintaining its downward trajectory, continue to weigh on the Hungarian economy.
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