New Transportation market report from Business Monitor International: "Pakistan Freight Transport Report 2013"
Boston, MA -- (SBWIRE) -- 02/18/2013 -- We expect to see somewhat muted growth both in 2013 and into the medium term in the Pakistani freight industry, with the outperformer set to be the country's air freight sector with year-on-year growth of 3.62% pencilled in for 2013. This is in keeping with the belief that the global air freight market remains buoyant despite the ongoing economic downturn, according to Air Cargo World. Africa has superseded China as the world's most lucrative air freight market, with the Indian subcontinent also reporting significant levels of growth. The global air freight market is, however, being increasingly affected by the sea freight market. Companies often prefer to have their goods transported by sea freight carriers as it is less expensive.
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In positive news for the country's maritime sector, International Container Services Inc (ICTSI) has bought a stake in the Pakistani International Container Terminal as part of its global expansion, it was announced in April 2012. BMI believes that this announcement from Philippines-based terminals operator ICTSI that it is to buy a 35% stake of a Pakistani container terminal is in keeping with its current expansion plans, which have seen the company recently take on new projects in Mexico and Nigeria. The move could also provide upside to our sedate growth forecast for box throughput at the Port of Karachi.
Headline Industry Data
- 2013 tonnage throughput at the Port of Karachi is forecast to grow by 1.33% to 42.62mn tonnes.
- 2013 tonnage throughput growth at the Port of Muhammad Bin Qasim is forecast to increase by 1.44% to 24.37mn tonnes.
- 2013 air freight tonnage forecast to grow by 3.62% to reach 346,400 tonnes.
- 2013 rail freight tonnage forecast to increase by 2.50% to hit 6.28mn tonnes.
- 2013 total trade (real terms) forecast to rise 3.50%.
Key Industry Trends
Upside Risk From Pakistan Rail Grant: Upside risk to our sedate rail freight growth forecast for Pakistan presents itself in the form of a US$628,000 grant that has been awarded to private logistics firm Premier Mercantile Services that wants to acquire its own fleet of locomotives. We believe this would greatly benefit the national rail company, which has been struggling to maintain operations due to a lack of equipment.
Qatar Airways, Air France-KLM Cargo To Resume Karachi Services: Qatar-based flag carrier Qatar Airways and Air France-KLM Cargo announced in March 2012 that they were to resume their scheduled freighter services to Karachi, Pakistan. The news came as industrial action threatened cargo clearance operations at the Jinnah International Airport.
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