New Market Study, "Israel Freight Transport Report Q3 2013", Has Been Published
Recently published research from Business Monitor International, "Israel Freight Transport Report Q3 2013", is now available at Fast Market Research
Boston, MA -- (SBWire) -- 08/01/2013 --We forecast fairly modest growth in Israel's freight transport sector in 2013, though this will be an improvement for air and rail freight volumes, both of which have suffered declines over the past two years. Political risk from the civil war in Syria and escalating sectarian tensions in Lebanon could all weigh on the Israeli economy and its freight transport sector. Equally, the sluggish growth of its key trade partners in the West could also hamper volumes. The country is looking towards the future however, and is committed to developing its ports.
Headline Industry Data
- 2013 air freight growth is forecast at 1.5%; we project average growth of 1.7% per annum to 2017.
- 2013 Port of Haifa tonnage throughput growth is forecast at 6.9%, following growth of 6.2% in 2012, and to average 3.6% per annum to 2017.
- 2013 rail freight tonnage is forecast to grow by 1.6%, following an estimated decline of 3.0% in 2012, to average 1.8% to 2017.
- Total trade growth in real terms in 2013 is forecast to grow 3.5% and averaging 2.9% to 2017.
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Key Industry Trends
Government On Collision Course With Unions: The first of a potential two new container-handling ports in Israel has been approved by the relevant regional planning and building commission. The port will break from tradition in Israel by being a privately developed and operated facility, aimed at providing the Mediterranean state with a seaport for the coming decades, able to handle the larger class of vessels that are coming online. While this is essential in order to foster efficiency in the sector, likely labour strikes at the country's existing maritime facilities could offer risk to our throughput growth forecasts for 2013.
Haifa Handles 10-millionth Export Container: Israel's Haifa port has successfully handled its 10- millionth export container since 2005 after a ship, Zim Texas, called at the port under the ZCA-Zim Container Service Atlantic. The vessel, with a carrying capacity of 4,250 twenty-foot equivalent units (TEUs), was en-route to the US and loaded containers at the Carmel Container Terminal.
El Al Israel Airlines, British Airways Sign Cooperation Agreement: The cargo divisions of El Al Israel Airlines and British Airways have signed a cargo cooperation agreement aimed at boosting El Al's capabilities to transport cargo to and from airports that are not directly served by the carrier.
Key Risks To Outlook
Israel's drive to develop its port sector through establishing private facilities offers the greatest risk to our outlook at present, as there is a high likelihood that the existing ports of Haifa and Ashdod could stage strikes in protest against the move.
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