Boston, MA -- (SBWIRE) -- 10/03/2013 -- The Qatari shipping sector continues to be dominated by the export of the country's key commodity, natural gas, through the export terminal of Ras Laffan. Much of this is carried by national carrier Qatar Gas Transport (Nakilat). However, the country is looking to increase its container and dry bulk shipping presence as well, through the development of the New Doha Port, which is being developed with an eye towards capturing some lucrative transhipment trade. Further, Qatar is making its presence felt in foreign ports sectors and is investing in developing facilities in Egypt.

- 2013 Port of Doha container throughput forecast to grow 3.0%, and to average 3.5% per annum to 2017 (including transferred operations to New Doha from 2015).
- 2013 Port of Doha total tonnage throughput forecast to expand by 2.9% to 8.68mn tonnes, and to average 3.1% per annum over our forecast period (including transferred operations to New Doha from 2015).
- 2013 total trade growth forecast at -1.2%, and to average -2.4% over our forecast period as gas prices fall.

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Key Industry Trends

Three Contracts Due For Doha Port Project: Three major tender contracts, as part of a US$7.4bn New Port Project in the Qatari capital of Doha, were scheduled to be awarded in the following three weeks, according to programme director Tim Verdon speaking at the close of July. Of the three contracts, one would be the supply of the port's cranes, including 12 ship-to-shore cranes and 38 rubber-tyred gantry cranes.

Nakilat's Net Profit Down To US$50mn In Q213: Qatar Gas Transport Company (Nakilat) registered a net profit of QAR182.4mn (US$50mn) in Q213, compared with a net profit of QAR204.1mn (US$56mn) in Q212. Nakilat's net profit slipped to QAR359.6mn (US$98.67mn) in H113 from QAR380.8mn (US $104.49mn) in the year before period.

Nakilat Strikes Refinancing Deal: Qatar-based shipping liquefied natural gas (LNG) shipping services provider Maran Nakilat has agreed to US$662.4mn refinancing deal with Qatar Islamic Bank and the Qatar-based financial services provider Barwa Bank.

Key Risks To Outlook

On the wildcard side, should Iran follow through on its threats to close, or attempt to close, the Strait of Hormuz, then the resulting regional instability and disruption to trade would have a direct effect on Qatar's shipping sector, and on the country as a whole. A more likely scenario is that the country's New Doha Port will not be completed on time for 2015; the completion date has already been pushed back once.

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