Boston, MA -- (SBWIRE) -- 01/30/2015 -- Another Year of Growth In Turkey's Main Ports

We are forecasting good single-digit percentage growth rates in Turkey's main ports in 2015, although the largest, the Port of Izmir, held back by capacity constraints, will see somewhat lower growth, in the 2%-3% range. The strongest increases will be experienced at the ports of Ambarli and Haydarpasa.

Turkey's economic outlook was encouraging at the beginning of 2015. Two developments augured well. First, monetary stimulus in Japan and Europe, despite expectations of a tightening stance by the US Federal Reserve, was positive for Turkey, given that its externally-leveraged economy is very sensitive to changes in global liquidity conditions. Second, falling oil prices - down by 40% in the second half of 2014, promised to help lower the domestic inflation rate and more importantly, boost net exports. Bearing these factors in mind, BMI is forecasting GDP growth of 3.5% in 2015 and 3.8% in 2016. We note however that this rate of growth is slower than the 6% average achieved in 2010-2013, given that we believe the country is undergoing a structural rebalancing process.

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Headline Industry Data

- 2015 port of Ambarli tonnage throughput is forecast to grow 8.5% to 4.737mn tonnes; over the medium term to 2019 we project average annual growth of 6.8%.
- 2015 port of Ambarli container throughput is forecast to grow 6.8% to 3.91mn TEUs; over the medium term we project annual average growth of 6.5%.
- 2015 total trade growth forecast at 5.0%, up from an estimated 3.3% in 2014.

Key Industry Trends

APM Terminals Investing In Turkey: Netherlands-based terminal-network company APM Terminals, a subsidiary of AP Moller-Maersk, intends to start a new terminal in Turkey's Marmara region. Reasons for selecting the location include Turkey's 'sizeable' economic growth in contrast with the growth in the rest of Europe and its 'low container penetration ratio'. Without giving any timelines, the company mentioned that it is currently in...

The Turkey 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 Turkey.

BMI's Turkey 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 Turkey.

Key Benefits

- Benchmark BMI's independent shipping industry forecasts for Turkey to test other views - a key input for successful budgeting and strategic business planning in the Turkish shipping market.
- Target business opportunities and risks in Turkey 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.

Coverage

BMI Industry View

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 Analysis

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.

Market Overview

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-2018 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

Company profiles include business activities, leading products and services, company strategy, trends and developments and economic performance analysis.

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