Fast Market Research recommends "Qatar Shipping Report Q2 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 06/05/2013 -- 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.
- 2013 Port of Doha container throughput forecast to grow 4.0%, and to average 4.4% per annum to 2017 (including transferred operations to New Doha from 2015).
- 2013 Port of Doha total tonnage throughput forecast to expand by 3.2% to 8.71mn tonnes, and to average 4.1% per annum over our forecast period (including transferred operations to New Doha from 2015).
- 2013 total 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
Doha Port Could Create 20,000 Jobs: The construction of a new port in Doha could reportedly generate 20,000 new employment opportunities. Al Noaimi, the chairperson of the New Port Project steering committee, has confirmed that work on the port is advancing on schedule.
Local Companies Get Half Of New Port Projects: Local companies in Qatar have secured half of the US $2.5bn projects for Qatar's new port at Mesaieed. The move is aimed at promoting the domestic private sector. The port, worth US$7.5bn, is scheduled to be completed by 2030 and its first construction phase is likely to be operational by 2016. Half of the 18 projects have been tendered to local companies.
Nakilat Inc Retains Stable Rating: In November 2012 ratings agency Standard & Poor's (S&P) confirmed that the Nakilat Inc, will be retaining its AA investment rating with a stable outlook. In its appraisal S&P cited the company's strong experience in managing LNG shipping - the company is the investment arm of parent firm Qatar Gas Transport Company, known as Nakilat.
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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