New Transportation market report from Business Monitor International: "Peru Shipping Report Q3 2013"
Boston, MA -- (SBWIRE) -- 08/14/2013 -- Significant commodity wealth, attractive investment opportunities at the sector level, and a growing consumer story underpin our broadly positive view on Peru's shipping sector. We believe the country's economy will remain one of Latin America's most dynamic over the coming years.
We forecast real GDP growth to come in at 5.4% in 2013, a slight upgrade from our previous forecast of 5.2%, due to our expectation that economic activity will remain relatively robust over the next few months. BMI sees favourable base effects affecting Peruvian exports in 2013, including the cyclical upswing in Chinese growth, some upside for metals prices in H113, as well as modestly stronger hydrocarbons production that will boost exports this year. This should boost shipping volumes. We expect slowing domestic growth to weigh on imports, forecasting growth of 8.1% in 2013, down from 10.4% in 2012. That said, in line with our view for economic rebalancing in China, we expect export growth will remain well off its recent highs, averaging 8.0% between 2013 and 2017, as compared to 19.1% between 2006 and 2011.
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Headline Industry Data
- We are projecting box traffic at Callao to grow 5.0% in 2013 to 20.3mn twenty-foot equivalent units (TEUs).
- We expect growth of 2.8% in total tonnage throughput at Callao to 1.1mn tonnes.
Key Industry Trends
Peru Hunts UAE Cash For Giant Logistics Hub: Peru is seeking investment from the UAE for a planned major logistics hub on the Pacific coast and also hopes to convince Dubai's Emirates Airline to launch flights to its capital, the country's Economics and Finance Minister Luis Miguel Castilla Rubio has said.
South Korea To Invest In Peruvian Ports: The South Korean government has announced that it will provide financial assistance to the Peruvian National Ports Authority, reports Port Strategy. This will finance the redevelopment of the ports at Iquitos, Ilo, Salaverry and San Juan de Marcona. The authority will also undertake an analysis of the facilities' future development plans.
APMT Starts Modernisation Work On Callao Terminal-Pier North: The FCC-JJC Consortium comprises Spain-based FCC Construction and Chile's General Contractors JJC. APMT has allocated US$206mn and US$101mn for the first and the second phases of this project.
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