Fast Market Research recommends "Kuwait Freight Transport Report Q4 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 11/15/2013 -- Kuwait's ports have struggled to recover the volumes they enjoyed prior to the global economic downturn, but BMI expects that growth will continue over the medium term. If there are continued instances of industrial unrest and strikes, however, as Kuwait's ports have struggled with since the Arab Spring of 2011, then we may have to revise our forecasts down. The air freight sector was also hit in 2011, with volumes falling, and we estimate that 2012 also saw a decline. In 2013 we forecast that air freight cargo at Kuwait International Airport will return to growth, albeit at a sedate pace over our forecast period.
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What continues to bode well for Kuwait's freight transport is our macroeconomic outlook for the country. Oil prices remain elevated, and this is translating into spending by the Kuwaiti government and greater wealth among the populous. This is attracting logistics companies to add services to the country. Kuwaiti logistics company Agility continues to develop rapidly.
Headline Industry Data
- 2013 Port of Shuaiba tonnage throughput growth forecast at 3.5% and to average 3.1% to 2017.
- 2013 Kuwait International Airport air freight tonnage forecast to grow 0.4% and to average growth of 1.1% a year to 2017.
- 2013 total trade real growth forecast at 2.8% and to average 2.6% to 2017.
Key Industry TrendsANL-Agility JV Established In PNG: French logistics company ANL Singapore has launched a new joint venture with Kuwaiti logistics company Agility. The joint venture, ANL Agencies PNG, operates in Papua New Guinea as of July 1 2013. It will primarily be responsible for the management of ANL's shipping agency business in the country.
Emergency Services Tackle Refinery Fire: Emergency services have extinguished a fire that broke out at Kuwait's Port Abdullah refinery on August 22. The fire was caused due to an oil leak but has not affected the refinery's operations, shipping and exports; no injuries to staff were reported.
UASC Likely To Order Vessels From HHI: UASC is likely to sign a US$2bn deal with Hyundai Heavy Industries (HHI) for 15-17 container vessels, including five Triple-Es. The order is likely to be finalised by August, with first deliveries expected to start in 2015.
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