Fast Market Research recommends "Mexico Shipping Report Q3 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 08/05/2013 -- BMI remains optimistic toward Mexico's long-term growth outlook, forecasting real GDP growth to average 4.0% between 2013 and 2022 on the back of Mexico's booming manufacturing sector, increasingly strong private consumer and favourable demographics, all of which bode well for the country's shipping and port sectors.
We have modestly revising up our 2013 real GDP growth forecast, from 3.4% to 3.6% to take into account potential for a stronger export and investment picture, in light of our recent upward adjustment to US growth. That said, this still represents a noticeable slowdown from our estimated 4.0% growth in 2012.
Headline Industry Data
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- Port of Manzanillo total tonnage growth in 2013 is estimated to hit 7.2%, to reach 29mn tonnes.
- Port of Veracruz total tonnage growth in 2013 is estimated to hit 1.1%, to reach 21mn tonnes.
- Mexico trade real growth forecast at 5.6% in 2013.
Key Trends And Developments
Northern States Continue To Invest In Transport Network
Upside risk is presented to our growth forecasts for two Mexican ports, Altamira and Tampico, as the state government for Tamaulipas has announced a massive forthcoming investment in the facilities. The investment will not only focus on the ports themselves but also their connecting infrastructure.
MOL Plans To Introduce New Asia-Mexico Express Service
Japan-based shipping company Mitsui OSK Lines (MOL) is scheduled to expand its operations with the launch of a new Asia-Mexico Express Service, leaving Ningbo on June 24. The weekly service will be operated by Hapag-Lloyd and will employ seven vessels.
Government To Invest US$783.1mn In Maritime Sector
The administration of Mexican president Enrique Pena Nieto intends to make an investment of US $783.1mn in the country's maritime sector in a bid to develop and construct new infrastructure at six ports.
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