Recently published research from Business Monitor International, "Hong Kong Freight Transport Report Q4 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/16/2013 -- Following a year in which BMI freight volumes decreased in all freight modes but one, 2013 will signal similar growth dynamics albeit slightly improving with a notable exception of maritime freight affected by a strike.
US demand is set to continue on its recovery course in 2013, while eurozone remains a lingering concern, although we believe that the crisis has migrated from an acute to a more chronic phase. On balance however, these will have a positive effect on throughput at Hong Kong's port, which caters as a container shipping hub for Asia, and also the country's air freight volumes, with Hong Kong boasting the busiest cargo airport globally. The port of Hong Kong's return to growth in box throughput in 2013, however, will be hindered by a forty day strike at the port. Hong Kong's air freight volumes are forecast to increase by 2.4% in 2013 after a growth of 2.2% in 2012.
View Full Report Details and Table of Contents
Domestic freight volumes have been negatively hit in 2012, with the country's road freight declining by 1.8% on the back of a slowdown in macroeconomic growth, with Hong Kong's real GDP in 2012 slowing down to 1.4% from 4.8% in 2011. In 2013 the country's economic growth is forecast to expand y-o-y by 2.4%, which will boost demand for domestic freight. We therefore project improved growth dynamics for Hong Kong's road freight leading to a marginal growth of just 0.1% in 2013.
Headline Industry Data
- 2013 Air freight tonnage is expected to grow by 2.4%
- 2013 Port of Hong Kong throughput is forecast to decrease by 4.5%
- 2013 Road freight is forecast to grow by 0.1%
- 2013 Inland waterway freight is forecast to decrease by 1.0%
- 2013 Total real trade growth is forecast at 3.3%.
Key Industry Trends
Cathay Pacific Attracted by Mexico's Exports Boom - Cathay Pacific Cargo, the freight-carrying wing of the Hong Kong flag carrier, has announced that it is launching a twice-weekly freighter service between its Hong Kong hub and the Mexican city of Guadalajara. This is not only Cathay's first freighter service to Latin America, but also marks the first such direct air freight service between Hong Kong and Mexico. BMI believes that the growth in Mexican manufacturing, in particular that related to the automotives industry, will serve to boost the country's air freight volumes in the coming years
Hong Kong Port Decline Continues - The strike at the port of Hong Kong may have come to an end in April 2013, but the throughput declines at the port have not stopped, with the latest data for May and June 2013 showing a 10.5% and a 3% decreases in container volumes y-o-y at the facility. The declines highlight that the problems that the port of Hong Kong faces go deeper than industrial action.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Transportation research reports at Fast Market Research
You may also be interested in these related reports:
- Romania Freight Transport Report Q4 2013
- Belgium Freight Transport Report Q4 2013
- China Freight Transport Report Q4 2013
- Panama Freight Transport Report Q4 2013
- Czech Republic Freight Transport Report Q4 2013
- Australia Freight Transport Report Q4 2013
- Vietnam Freight Transport Report Q4 2013
- Iran Freight Transport Report Q4 2013
- Netherlands Freight Transport Report Q4 2013
- Poland Freight Transport Report Q4 2013
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)