Boston, MA -- (SBWIRE) -- 01/24/2014 -- Following a year in which BMI believes saw increasing volumes across all Romania's freight transport modes, 2014 will signal further growth in line with slowly improving macroeconomic outlook.

Total trade is projected to slow its decline in real terms, with our Country Risk desk forecasting a y-o-y decrease of 0.83% in 2014 following an estimated decline by 1.15% in 2013.

Road freight is to continue to dominate the sector and is projected to grow by 3% in 2014. The sector did not manage to defy the downturn, with volumes plummeting in 2009-2012, and is struggling to recover.

BMI notes two of the Croatian state-owned transport companies - HZ Cargo and Croatia Airlines - are currently at the different stages of privatisation.

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Headline Industry Data

- 2014 Air freight tonnage is expected to grow by 1.0%
- 2014 Rail freight is forecast to grow by 1.4%
- 2014 Port of Rijeka throughput is forecast to grow by 1.9%
- 2014 Road freight is forecast to grow by 3.0%
- 2014 Inland waterway freight is forecast to grow by 0.2%
- 2014 Total real trade growth is forecast at -0.8%.

Key Industry Trends

Croatia Airlines Privatisation Kicks Off- Croatia Airlines privatisation process got underway at the end of October 2013, with Croatia's Centre for Restructuring and Sales (CERP) inviting investors to express interest in buying a 49% stake in the company, with November 27 set as the deadline for potential investors. The preliminary tender will be followed by another one, with concrete offers to be made.

Croatia Replaces Head of HZ Cargo as Privatisation Nears- Croatian government appointed Danijel Krakic as a new director of HZ Cargo at the end of October 2013. At the same government meeting the president and all members of the HZ Cargo Management Board were dismissed. Krakic previously headed the railway sector at the Croatian Ministry of Transport and served as president of the HZ Cargo Supervisory Board. The government is still very much in command at HZ Cargo, as privatisation of a majority stake in the company is still not finalised.

Rijeka Making Its Bid for Regional Gateway Status- The Port of Rijeka is taking important steps to compete on a regional basis, laying claim to becoming a southern and central European gateway. The port is seeking to modernize facilities and improve hinterland freight connections.

Croatian President Woos Chinese Investment- Croatian president Ivo Josipovic said his country wanted to deepen cooperation with China and 'become another door to Europe for Chinese investors'. According to the president, the port of Rijeka provides a very good new opportunity for Chinese companies and by using Rijeka or Slovenia's port of Luka Koper they could cut down on shipping times.

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