Boston, MA -- (SBWIRE) -- 01/23/2015 -- BMI expects continued growth at Kuwaiti ports over the medium term, though the upcoming launch of the new Mubarak al-Kabir facility offers risk to our outlook. If there are continued instances of industrial unrest and strikes, however, as Kuwait's ports have struggled with since the Arab Spring of 2011, then we may have to revise our forecasts down. The air freight sector was also hit in 2011, with volumes falling. We forecast slow but steady growth in Kuwaiti air freight over the medium term.

What bodes well for Kuwait's container ports is our macroeconomic outlook for the country. High oil prices in recent years have translated into increased spending by the Kuwaiti government. This will boost growth at the Gulf state's ports, both through spending on infrastructure projects impacting on total tonnage throughputs and consumer spending boosting imports of containerised goods.

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The dramatic fall in the oil price in the second half of 2014 likely heralds an era of much cheaper oil, which will impact upon Kuwaiti growth - we forecast real GDP growth of 2.9% in 2014 and 2.7% in 2015, from an estimated 3.0% in 2013. Nevertheless, Kuwait has significant fiscal buffers, and could live with oil prices around USD60/bbl for an extended period of time. We currently forecast the price to be within the USD70-75/bbl range over the next several years, and we expect government spending to continue.

Economic growth is translating into spending by the Kuwaiti government and greater wealth among the people. This is attracting logistics companies to add services to the country. Kuwaiti logistics company Agility continues to develop rapidly.

Headline Industry Data

- 2015 Port of Shuaiba tonnage throughput growth forecast at 10.0% and to average 8.0% to 2019.
- 2015 Kuwait International Airport air freight tonnage forecast to grow 1.3% and to average growth of 1.4% a year to 2019.
- 2015 total trade real growth forecast at 2.6% and to average 2.6% to 2019.

Key Industry Trends

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The Kuwait Freight Transport Report has been researched at source, and features latest-available data covering commercial transport and logistics by road, rail, air and water; industry forecasts, company rankings covering leading national and multinational operators; and analysis of latest industry trends, opportunities, projects and regulatory changes.

Business Monitor International (BMI)'s Kuwait Freight Transport Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Kuwaiti freight transport and logistics industry.

Key Benefits

- Benchmark BMI's independent freight transport industry forecasts on Kuwait to test other views - a key input for successful budgetary and planning in the strategic freight transport market.
- Target business opportunities and risks in the Kuwaiti freight transport sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Kuwait.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs, and latest activity).

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering freight transport and logistics, regulatory changes, major investments and projects and significant national and multinational company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the freight sector and within the broader political, economic and business environment.

Industry Trends And Developments

Analysis of latest projects across the freight transport sector (road, rail, air, sea and logistics) including market overview which provides an outline of the key elements driving development.

BMI Industry Forecasts

Historic data series and forecasts to end-2018 for all key industry and macroeconomic indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Transport Sector: Sector Value (US$bn); sector real growth (%); employment (`000); total freight carried by road, rail, inland waterways, maritime, air and pipeline (mn tonnes-km/mn tonnes)

Trade: Exports and imports (US$mn) by category of goods (manufactured goods, food, chemicals etc.); top-5 import and export trade partners (US$mn); imports/exports to each global region (US$mn)

Port Data: Throughput (`000 tonnes) and container throughput (TEU) for all major ports in the state

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