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Recently Released Market Study: Kuwait Freight Transport Report Q3 2013

Fast Market Research recommends "Kuwait Freight Transport Report Q3 2013" from Business Monitor International, now available


Boston, MA -- (SBWIRE) -- 08/01/2013 -- Kuwait's ports have struggled to recover the volumes they enjoyed prior to the global economic downturn, but BMI expects recovery to have been completed by 2013, and 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 1.0% and to average 3.0% to 2017.
- 2013 Kuwait International Airport air freight tonnage forecast to grow by 1.8% and to average growth of 1.4% a year to 2017.
- 2013 total trade real growth forecast at 1.0% and to average 2.4% to 2017.

Key Industry Trends

Globe Express Services Enhances Operations: Globe Express Services has enhanced its operations in Kuwait with the introduction of a full range of innovative supply chain solutions in the country. This move by the company is aimed at capitalising on aggressive investments by the government towards large-scale logistics and transport infrastructure projects. This includes the first phase of the Mubarak Al Kabir Port development, which is worth US$1.2bn and is due to be completed in Q214.

Agility Discloses Strong Financial Results: Agility registered a 46% year-on-year (y-o-y) rise in net profit to KWD10.1mn (US$35.5mn) in Q113. In the reported period, the company's revenue stood at KWD352.6mn (US$1.2bn), up by 10% y-o-y. It also recorded an increase of 36% y-o-y in EBITDA to KWD21.6mn (US$75.9mn) in the first three months of 2013.

United Arab Shipping To Introduce Rate Increase: Part-Kuwaiti shipping company United Arab Shipping Company has announced that it will introduce a rate increase on several of its routes from June 1 2013. The rate increase for services from Asia to the Adriatic, Europe and the Mediterranean will be US $675 per TEU.

Risks To Outlook

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