Recently published research from Business Monitor International, "Qatar Shipping Report Q1 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 12/31/2013 -- The Qatari shipping sector continues to be dominated by the export of the country's key commodity, natural gas, through the export terminal of Ras Laffan. Much of this is carried by national carrier Qatar Gas Transport (Nakilat). However, the country is looking to increase its container and dry bulk shipping presence as well, through the development of the New Doha Port, which is being developed with an eye towards capturing some lucrative transhipment trade. Further, Qatar is making its presence felt in foreign ports sectors and is investing in developing facilities in Egypt.
- 2014 Port of Doha container throughput forecast to grow 3.5%, and to average 4.1% per annum to 2018 (including transferred operations to New Doha from 2015).
- 2014 Port of Doha total tonnage throughput forecast to expand by 3.1% to 8.95mn tonnes, and to average 3.5% per annum over our forecast period (including transferred operations to New Doha from 2015).
- 2013 total real trade growth forecast at -1.2%, and to average -2.4% over our forecast period as gas prices fall.
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Key Industry Trends
Al Ruwais Port Project To Be Completed By End-2013: The Al Ruwais Port project in Qatar is scheduled to be completed by end-2013. The QAR1bn (US$247.7mn) project is being built by Consolidated Engineering Construction Company for Qatar's Public Works Authority. The expansion and development of the port will be executed in three phases, including development of the Al Ruwais Port, marine facilities for a fishing harbour and other facilities.
Nakilat Secures Seven-Vessel Contract At Port Of Ras Laffan: Qatari marine carrier Nakilat has secured vessel building and operations contracts for the port of Ras Lafaan. Nakilat Damen Shipyards Qatar, a joint venture between Nakilat and Dutch shipbuilder Damen, has signed an agreement to build seven vessels, two 60-tonne bollard pull (BP) azimuth stern drive (ASD) tugs, two 45-tonne BP ASD tugs, two 15-tonne BP twin-screw mooring boats and one pilot boat.
KPMG Positive About GCC Rail Network: Accountancy firm KPMG has released a report which has predicted a bright future for the US$200bn Gulf Cooperation Council (GCC) rail network, which will connect the UAE with Saudi Arabia, Qatar, Kuwait, Bahrain and Oman. The rail network will call at the New Doha port, improving the facility's connectivity once it is launched.
Key Risks To Outlook
On the wildcard side, should Iran follow through on its threats to close, or attempt to close, the Strait of Hormuz, then the resulting regional instability and disruption to trade would have a direct effect on Qatar's shipping sector, and on the country as a whole. A more likely scenario is that the country's New Doha Port will not be completed on time for 2015; the completion date has already been pushed back once.
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