Recently published research from Business Monitor International, "Egypt Freight Transport Report Q1 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 12/26/2013 -- Political uncertainty will continue to affect the Egyptian economy in 2014 as the country continues upon its rocky transitional period towards democracy. At the time of writing, in October 2013, violence has continued to wrack the country in the wake of the ouster of democratically elected President Morsi in July 2013, and a curfew remains in place. The uncertainty will continue to hamper trade and economic growth over the year.
The presence of the Suez Canal in Egyptian territory provides an important source of income in fees and associated businesses to the Egyptian economy; those ports and transit routes expected to see strongest growth in 2014 are those located near to the canal, such as East Port Said and roads leading to it. However, should instability bring danger to these ports then these two could see volumes affected.
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Headline Industry Data
- Air freight handled at Cairo International Airport is set to grow by 3.7% year-on-year (y-o-y) in 2014 to reach 318,580 tonnes. Over the medium term to 2018, growth will average 3.5% per annum.
- Rail cargo will enjoy expansion of 1.9% in 201, with growth projected to average 1.7% over the medium term.
- Total tonnage throughput at East Port Said is forecast to grow by 8.8% to 35.173mn tonnes in 2014, and to average 8.7% per annum to 2018.
- Total trade is forecast to see a growth in real terms of 0.4% in 2013, picking up in 2014 with an expansion of 6.1%.
Key Industry Trends
Suez Canal To Flow As Normal In Spite Of Recent Attacks:
Despite the August attack on a container ship passing through the Suez Canal, and subsequent threats by the group responsible to repeat the assault on further vessels, we are confident that volumes passing through the channel will continue as normal, especially as the attack has not led to a hike in insurance premiums.
Ashdod Loses Major Service Call In Boon For Egyptian Ports: BMI believes that the decision by the G6 Alliance to cancel one of its direct calls at the Israeli port of Ashdod in August could be the first of many services to be lost by Israeli ports, as they are unable to handle the larger class of vessel that are coming to operate on the Asia-Europe shipping lanes. This highlights how important the new container terminals that have now been tendered are for the Israeli economy. Should more services shy away from the Israeli ports then other regional facilities could stand to benefit.
Al Abbas Starts New Transport Route: Egypt-based Al Abbas Transport has expanded its network by adding a new transport route between Erqan and Sudan's Khartoum. The launch of the latest route coincides with the opening of the Egypt-Sudan overland link, which connects Erqan to Sudan's Dongola city.
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