New Transportation market report from Business Monitor International: "Egypt Shipping Report Q3 2013"

Boston, MA -- (SBWire) -- 07/11/2013 --Political uncertainty will continue to affect the Egyptian economy in 2013 as the country continues upon its rocky transitional period towards democracy. This uncertainty will, in turn, continue to affect the shipping sector as a worsening economic position will impact on the country's imports through the ports. Further, Egypt is struggling to maintain foreign reserves as foreign investment has dried up since the ouster of President Mubarak as investors wait to see what the future holds. In light of this, a Qatari plan to invest in a new industrial and ports complex near the Suez Canal will come as a relief to the sector. The presence of the waterway in Egyptian territory provides an important source of income in fees and associated businesses to the Egyptian economy; those ports expected to see strongest growth in 2013 are those located near to the canal, such as East Port Said.

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Headline Industry Data

- 2013 total tonnage throughput at El Dekheila is forecast to grow by 3.4% to 25.22mn tonnes, and to average 4.4% per annum to 2017.
- 2013 East Port Said container throughput growth forecast at 8.6% to reach 3.69mn twenty-foot equivalent units (TEUs), and to average 9.1% to.
- 2013 Egyptian trade forecast to contract by 0.2%, and to average growth of 5.5% over the medium term.

Key Industry Trends

Shippers Condemn Suez Canal Hike: In March The Asian Shipowners' Forum (ASF) criticised a planned hike in Suez Canal tolls, to come in to effect from May 1 2013. The ASF has made a submission to the Suez Canal Authority (SCA) asking it reconsider the toll increase, which the SCA has said will be in the range of 3-5%, depending on the type of ship.

Unrest Brings Downside Risk To East Port Said Forecast: BMI's 2013 throughput growth forecast for the Egyptian port of East Port Said, the largest container-handling facility in the country, is jeopardised by the political unrest in the country.

Operations At Sokhna Port Resume After Workers End Strike: Operations at the Egypt's Port of Sokhna resumed in mid-February after workers signed permanent contracts with global ports operator DP World, according to Egypt's Transport Minister Hatem Abd al-Latif. The move comes after the port's employees, who had been on strike, entered into an agreement with Platinum to work for DP World after their contracts with Platinum expire.

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