Fast Market Research recommends "Kuwait Freight Transport Report Q4 2012" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 11/09/2012 -- Kuwait's ports have struggled to recover the volumes they enjoyed prior to the global economic downturn, but BMI expects this largely to be achieved in 2012, with only total tonnage throughput at Shuaiba not forecast to recoup lost levels until 2013. 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 actually falling. 2012 has not started well, and we are forecasting another decline in tonnage at Kuwait International Airport in 2012.
What continues to bode well for Kuwait's freight transport is our macroeconomic outlook for the country. Oil prices remain elevated, and this is translating into spending by the Kuwaiti government, and greater wealth among the populous. This is attracting logistics companies to add services to the country.
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Headline Industry Data
- 2012 Port of Shuaiba tonnage throughput growth forecast at 4.8% and to average 5.0% to 2016.
- 2012 Kuwait International air freight tonnage forecast to contract by 3.9% and to average growth of just 0.3% a year to 2016.
- 2012 total trade real growth forecast at 3.6% and to average 3.8% to 2016%.
Key Industry Trends
DHL Global Launches New Shanghai-Dubai Service
German freight forwarder DHL Global Forwarding has announced that it has launched a new-less-thancontainer- load service between Shanghai and Dubai. The service will allow products to reach their destinations in either 17 or 19 days. Trade between China and the UAE was valued at US$120bn during H111. The service will also serve several other destinations in the Middle East, including Doha and Kuwait City.
Kuwaiti Mega Port Construction Suspended
The final phase of construction of Kuwait's Mubarak al-Kabir port has been suspended. This follows negotiations between the respective governments of Iraq and Kuwait. The port, which was initially intended to have 60 wharves, will now instead have 24.
KOTC To Receive Nine Takers In FY14/15
The Kuwait Oil Tanker Company (KOTC) is scheduled to receive nine new tankers from two South Korean companies in FY14/15, said KOTC's chairman Bader al-Khashti. The company will receive five crude tankers from Daewoo Shipbuilding & Marine Engineering, while Hyundai Mipo Dockyard will deliver four crude tankers.
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