Recently published research from Business Monitor International, "Colombia Shipping Report Q2 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 03/11/2013 -- BMI forecasts that the three primary ports of Colombia will all see strong growth in 2013, and over the medium term, on top of a good performance in 2012. The country is forecast to be one of the strongestperforming economies in Latin America this year, with growth of 4.3%. Throughput volumes will be supported not only by the growing dry bulk export story, in particular coal, but also container volumes will rise on the back of strong private consumption, forecast at 4.0%.
Headline Industry Data
- The Port of Cartagena will see total tonnage volume increase by 9.4% to 18.57mn tonnes in 2013.
- Container traffic at Cartagena will rise by 12.8% to 2.26mn twenty-foot equivalent units
- Volume at the Pacific port of Buenaventura will be up by a similarly healthy 7.4% to 10.41mn tonnes, while container traffic will rise 6.4% to reach 529,444 TEUs.
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Key Industry Trends
Coal Powered Growth In Ports Sector: BMI believes that the mining sector, in particular coal, will continue to lead the development of Colombian dry bulk ports in 2013, with mining giant Glencore International's new facility, Puerto Nuevo, scheduled to open by July of this year. The new facility will help the Colombian government to increase the mining sector's current value from 2.4% of GDP.
Isabella Shipping Starts Tex-Col Express Service: Isabella Shipping has launched its Tex-Col Express service that will offer direct service between the US Port of Freeport and the Colombian Port of Cartagena. The full rotation of the Tex-Col Express service also comprises Turbo, Colombia and Puerto Moin in Costa Rica. The service will initially be offered twice a week and will deploy CV100 vessels. It will be upgraded to a weekly service depending upon the cargo volume.
Key Risks To Outlook
For the medium term the main risk to our positive outlook for Colombia remains the possibility of a hard landing for China, which we expect to take up the shortfall as US imports of Colombian coal decrease. A severe slowdown in the country would kill Chinese demand for raw materials such as iron ore and coal, leaving Colombia to look elsewhere for an export market. We have recently revised up our growth outlook for the Asian giant, yet we believe that the can is being kicked down the road and that a hard landing is still distinctly possible.
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