New Transportation market report from Business Monitor International: "Singapore Freight Transport Report Q3 2014"
Boston, MA -- (SBWIRE) -- 07/23/2014 -- Singapore's role as a global transhipment hub is both its blessing and its curse. In times such as these, when key markets in Europe and the US are either recessionary or growing sluggishly, it can be hit by depleted freight volumes. In 2014, we forecast growth in both port and airport total tonnage volumes, albeit it will be sluggish. Both facilities are investing considerably, and we are confident of growth over the medium and long term.
Headline Industry Data
- 2014 air freight tonnage through Changi International Airport to grow 1.1% after a 0.8% expansion in 2013. Growth over our forecast period (2014-2018) to average 1.2% a year.
- The Port of Singapore's gross tonnage will grow by 7.2% in 2014, with average annual growth at 5.4% during our forecast period.
- The country's overall trade will grow by 3.4% in real terms in 2014, to average 4.1% to 2018.
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Key Industry Trends
Changi Airport Registers 1.3% Fall In Air Freight Handled - Singapore's Changi Airport registered a 1.3% year-on-year (y-o-y) fall in air freight to 169,800 tonnes in March. The airport processed cargo shipments of 446,900 tonnes during January-March 2014. Over 100 airlines run at the airport and link Singapore to 280 cities in about 60 countries and territories across the globe. This means that growth has slowed considerably since January, when the facility registered a 3.8% y-o-y rise in cargo handling to 151,400 tonnes.
Beefing Up To Meet LNG Hub Ambitions - Singapore is racing to establish itself as the region's gas trading hub as gas demand, particularly in liquefied natural gas (LNG), grows. The city-state possesses advantages in several areas that position it well for such a role, despite growing competition from Malaysia.
Container Port Registers 7.2% Rise In Box Volumes - Singapore's container port registered a 7.2% y-o-y increase in box volumes to 2.83mn twenty-foot equivalent units (TEUs) in March, compared with 2.64mn TEUs in the same month in 2013. The port posted a rise...
The Singapore 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 Singapore Freight Transport Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Singaporean freight transport and logistics industry.
- Benchmark BMI's independent freight transport industry forecasts on Singapore 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 Singaporean freight transport sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Singapore.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs, and latest activity).
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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