Fast Market Research

"Thailand Shipping Report Q3 2012" Now Available at Fast Market Research

New Transportation research report from Business Monitor International is now available from Fast Market Research


Boston, MA -- (SBWIRE) -- 09/20/2012 -- BMI View: Floods and World Economy Weigh on Forecasts

Although BMI thinks Thailand's post-2011 floods economic recovery is losing steam, we are still moderately optimistic on the outlook for the country's ports and shipping sector. We see GDP growth of 4.0% this year, followed by 4.4% in 2013, which will provide a degree of support for the industry. Admittedly, foreign trade growth will fall by half in 2012 compared to the preceding year (down from 11.6% to 5.3% in real terms). But on the plus side we see foreign trade growing at just above 5% per annum for the next few years.

As for industry-specific factors, some of the worst fears about the impact of last year's floods now seem to be receding. One of these was that multinational companies active in the Thai manufacturing sector might conclude that damage to the supply chain was irreparable, and therefore relocate their activities to areas less exposed to flooding or other natural hazards. Some six months on, however, automobile exports from Thailand are recovering at a healthy pace.

View Full Report Details and Table of Contents

Headline Industry Data

- Gross tonnage at Laem Chabang, the country's largest port, set to rise by 6.8% to 57.23mn tonnes in 2012 (faster than the forecast 4.0% GDP growth for this year).
- Box handling at the same port to rise 6.7% to 6.116mn twenty-foot equivalent units (TEUs).
- At the Port of Bangkok BMI projects that tonnage growth will reach 5.8% in 2012 (up from 2.4% in 2011) to 17.81mn tonnes, with container handling set to grow 5.4% to 1.376mn TEUs.
- We expect the real value of foreign trade to grow 5.25% in 2012, with imports up by 5.5% and exports marginally behind at 5.0%.

Key Industry Trends

Precious Shipping Losing Money But Still Buying Boats

Precious Shipping, the largest Thai dry bulk shipping company, posted a net loss of THB40.96mn (US$1.33mn) for the quarter, down from a net profit of THB108.63m in the same period of 2011. It said the move into the red was caused by rising running expenses and falling freight rates. Despite slipping into the red, Precious is continuing with its fleet expansion plans. In February, the company obtained a credit facility of US$100mn from the Export-Import Bank of Thailand for the acquisition of new or second-hand dry bulk vessels. We caution, however, that while these strategies are bringing orders at a difficult time for shipbuilders, owners that continue ordering run the risk of helping to prolong the ongoing rates depression caused by the current overcapacity in the sector.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

Browse all Transportation research reports at Fast Market Research

You may also be interested in these related reports:

- South Korea Shipping Report Q3 2012
- Hong Kong Shipping Report Q3 2012
- Philippines Shipping Report Q3 2012
- China Shipping Report Q3 2012
- United States Shipping Report Q3 2012
- Indonesia Shipping Report Q3 2012
- Iran Shipping Report Q3 2012
- Greece Shipping Report Q3 2012
- Croatia Shipping Report Q3 2012
- Poland Shipping Report Q3 2012