New Transportation market report from Business Monitor International: "Singapore Shipping Report Q4 2014"
Boston, MA -- (SBWIRE) -- 10/10/2014 -- Our outlook for the port of Singapore for 201 4 is that it will not overtake the port of Shanghai for the crown of the world's largest container port. We now see such a scenario as unlikely to fall out, and we believe that Shanghai will increase its lead over Singapore, not only this year but over our medium-term forecast period to 201 8 .
Nevertheless, growth in Singapore will remain positive, buoyed by a return to growth (albeit tentative and uneven) in Europe, and the ongoing recovery in the US.
Headline Industry Data:
- Port of Singapore's gross tonnage will grow by 7.2% in 2014 and will expand an average 5.4% over our medium-term forecast period to 2018.
- Port of Singapore box handling set to grow by 4.5% in 2014, with average annual growth set at 3.9% per annum over the medium term.
- The country's overall trade will grow by 3.2% in real terms in 2014 and will average 4.1% to 2018.
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Key Industry Trends
Port's Throughput Up 4.1% In June: The port of Singapore registered a 4.1% year-on-year (y-o-y) rise to 2.84mn twenty-foot equivalent units (TEUs) in June, according to preliminary figures released by the Maritime and Port Authority of Singapore (MPA). On a month-on-month basis, the port's volume fell by 3.6% from 2.94mn recorded in May.
Hapag-Lloyd Unveils TSX Service: Germany-based shipping services provider Hapag-Lloyd has unveiled a new feeder service dubbed the Thailand Singapore Express (TSX) between Thailand and Singapore, according to a company press release. The new service will call at Laem Chabang, Singapore and back to Laem Chabang. This will help to support continued throughput growth at the port of Singapore.
Thoresen Shipping Acquires Dry Bulk Vessel: Thoresen Thai Agencies' wholly owned subsidiary Thoresen Shipping Singapore has boosted its fleet with the addition of a second-hand Supramax bulker. The company paid USD21.95mn to acquire the dry bulk vessel Thor Monadic which has a capacity of 56,026 deadweight tonnes.
The Singapore Shipping Report has been researched at source and features latest-available data and Business Monitor International (BMI)'s independent forecasting, critically analysing international transport of dry bulk and containers. The report evaluates the global commodities and trade backdrop, alongside in-depth country-specific analysis of trade prospects. The report also contains company profiles covering leading multinational and national shipping companies and analysis of latest industry news, trends and regulatory developments in Singapore.
BMI's Singapore Shipping Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the shipping industry in Singapore.
- Benchmark BMI's independent shipping industry forecasts for Singapore to test other views - a key input for successful budgeting and strategic business planning in the Singaporean shipping market.
- Target business opportunities and risks in Singapore through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
- Exploit the latest competitive intelligence and company SWOTS on your competitors and peers including multinational and national companies.
Summary of BMI's key industry forecasts, views and trend analysis covering shipping, major investments and projects and significant multinational and national company developments.
SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the state's shipping sector, which carefully evaluates the short- and medium-term issues facing the industry.
Analysis of the capacity, terminals and planned development of the major ports in each country, including data on throughput and total tonnage.
Industry Forecast Scenario
Historic data series (2008-2012) and forecasts to end-2017 for all key industry and macroeconomic indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Major port freight throughput (tonnes/teu); overall freight throughput (teu); total imports (US$bn) and exports (US$bn).
Company profiles include business activities, leading products and services, company strategy, trends and developments and economic performance analysis.
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