Boston, MA -- (SBWIRE) -- 08/02/2012 -- The Port of Nagoya, Japan's largest in terms of tonnage, is set to continue recovering its pre-downturn total throughput volumes in 2012, while we expect most of country's port developments to be focused on reconstruction efforts.
Japan's largest container facility in terms of throughput, the Port of Tokyo, is expected to further increase box volumes, after it staged prompt and full recovery of its 2008 container handling levels. Over the medium term we project further growth at the country's ports, with Nagoya completing full recovery of its pre-downturn total tonnage.
Headline Industry Data
- 2012 port of Nagoya tonnage throughput forecast to grow 4%, over the medium term we project a 26% increase. - 2012 port of Tokyo container throughput forecast to grow 4%, over the medium term we project a 21% increase. - 2012 total trade growth forecast at 5.5%.
Key Industry Trends
Protectionism In Asia Dry Bulk
BMI believes that the protectionism that we have started to witness in the Asian shipping sector will have reached a new level if the South Korean government decides to implement a ban on the import of coal and other commodities used for energy production by Japanese ships. We highlight a growing trend of shipowners successfully lobbying their governments to protect them from outside competition. If South Korea moves forward with the ban South Korean firms will benefit, specifically Hanjin Shipping, as the company will face less competition. On the other hand, Nippon Yusen Kaisha (NYK) and Mitsui OSK will suffer from the decision as they will be locked out of Korea's massive coal import market.
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No Expansion On Asia-Europe
Both NYK and Mitsui OSK, as part of the G6 Alliance, will not increase their container services on the Asia-North Europe route. The alliance has decided to keep the current 6-loop structure of its Asia-Europe service in a bid not to add any spare capacity in the already- tough market conditions.
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