New Report Available: Israel Shipping Report Q1 2013

Boston, MA -- (SBWIRE) -- 03/08/2013 -- Israel's two major ports, Ashdod and Haifa, held up better than expected in 2012, supported by strong domestic consumption. While we forecast this to slow in 2013, we maintain that the facilities will record positive growth. Longer term, plans for new terminals at the two facilities, capable of handling larger ships, offer hope for the long-term outlook.

Headline Industry Data

- 2013 Port of Haifa total tonnage throughput to grow by 3.4%, and to average 2.9% to 2017.
- 2013 box handling at Haifa will grow by 2.9% to 1.40mn TEUs. Growth projected to average 2.5% to 2017.
- Israel's total trade is forecast to see real growth of 3.5% in 2013, from a 4.0% expansion in imports and a 3.0% growth in exports. Growth will average 2.9% over the medium term.

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Key Industry Trends

Much Needed Investment In Container Terminals

BMI believes that Israel is wise to set in motion a long-term plan for the expansion of its Mediterranean ports Ashdod and Haifa. We have highlighted previously how the country's facilities are not equipped to deal with the ever-larger container ships being launched, and this move addresses this. The new terminals will provide upside potential to the ports over the longer term.

Papo Maritime Submits ILS15mn Deposit For Port Privatisation

Papo Maritime submitted an ILS15mn (US$ 3.84mn) deposit in September to guarantee its bid for the proposed privatisation of the Israeli Port of Eilat. Papo Maritime was the sole bidder for the port after Gold Bond Group and Gadot Chemical Tankers and Terminals failed to submit the required deposit.

Zim To Add Ashdod To ZCA Service

Israel-based Zim Integrated Shipping Services' ZCA service now calls at the Israeli Port of Ashdod with effect from November. This will enable the company to provide better export and import service to customers in the central and southern part of Israel. This move intends to reinforce and enhance the services already offered by the company to the Israeli market.

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