SBWire

In welcome news for the South Korean economy and, by extension, the country's freight industry, South Korea reported the fastest increase in its industrial productivity in more than four years during December 2013, according to data from state-run Statistics Korea. This was attributed to robust production of memory chips and cars. A rise of 3.4% month-on-month (m-o-m) was observed in the production of the mining, manufacturing, gas and electricity sectors during the reported period.

Taiwan's economy grew strongly in Q4 2013, with real GDP growth printing a seasonally-adjusted 2.4% quarter-on-quarter (q-o-q), accelerating sharply from 0.3% in Q3 2013. On an annual basis, real GDP growth expanded 2.9% compared to 1.7% during the same period, strongly surpassing consensus estimates of 1.9%. This brought 2013 full-year growth to 2.2%, in line with our forecast of 2.1%. The absence of a breakdown of the quarterly growth figure has prevents us from detailing the main drivers of growth in the last quarter.

Economy Continues To Slow Into 2014; Recovery In 2015

Following a year in which BMI saw mixed dynamics across Russia's freight transport sector, 2014 will signal growth in all freight modes in line with the macroeconomic outlook for the country.

BMI maintains its positive outlook for the US freight transport sector. Our view for gradual strengthening in the US economy through end 2014 continues to play out, driven by a tightening labour market and sustained growth in the cyclical components of the economy, notably the residential housing sector and business investment in equipment. Data have been particularly strong in recent months, and we acknowledge that risks are weighted to the upside. On the back of this BMI maintains its cautiously positive outlook on the US freight sector.

After a 5.5% drop in sales in 2012 (reflective of the tough macroeconomic environment during the year; the July 2012 flooding and ongoing violence in the country), BMI continues to forecast that the new vehicles market will post a strong rebound in 2013 and in 2014, when we forecast a 8.0% rise in sales, to 55,611 units.

BMI GDP Forecast For Taiwan Edged Up To 3.1% in 2014

Growth Forecast Reduced For 2014

BMI maintains its positive outlook on Peru's shipping and port sector. While we expect real GDP growth to level off at around 5.0% during our forecast period, below its recent trend, significant mineral wealth, attractive investment opportunities at the sector level, and a growing consumer story underpin our view that Peru will remain one of the most dynamic economies in Latin America in the coming years.

Things are looking up for the Bahraini shipping sector. The Khalifa bin Salman Port (KBSP) is seeing volumes rise on the back of the massive hike in demand at Saudi Arabian ports. The consumer demand story also bodes well for domestic demand over the medium term, while the port of Mina Salman could see tonnage volumes rise due to a house-building programme underway in the Kingdom.

In 2013, total vehicle sales in Spain increased 4.2%. BMI forecasts a 9.0% increase in vehicle sales. This comes from an expected 8% increase in the passenger car segment and 14.9% rise in commercial vehicle (CV) sales.

Global Marine freight industry guide provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The guide also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Ever since reunification in October 1990, there have been voices claiming that it was less of a reunification and more of a 'feindliche Ubernahme' (hostile takeover) that would sow the seeds for an economic disharmony lasting decades. This case study examines the existence of an economic divide within Germany, the potential reasons for it and analyzes whether the gap is closing.

Turkish vehicle production declined 10.8% year-on-year (y-o-y) in the first two months of 2014, to 158,182 units, despite a surge in passenger car output, on the back of sharp declines in commercial vehicle (CV) manufacturing. BMI forecasts a 2.4% increase in total vehicle output in 2014 due to sustained growth in the passenger car segment and a recovery in CV production.

BMI maintains its broadly positive view on Peru's freight transport sector. While we expect real GDP growth to level off at around 5.0% during our forecast period, below its recent trend, significant mineral wealth, attractive investment opportunities at the sector level, and a growing consumer story underpin our view that Peru will remain one of the most dynamic economies in Latin America in the coming years.

Russia's two bellwethers, the port of St Petersburg, Russia's main box facility, and the port of Novorossiysk, one of the country's largest ports in terms of total throughout, are set to hold their respective positions in Russia's maritime sector in 2014, with freight volumes forecast to increase. Although we expect Russia's consumer story to remain attractive over the next few years, helping container throughput growth at the country's ports, economic growth will be modest in 2014 and 2015 as the main driver of growth over the past decade - household consumption - continues to weaken.

MarketLines' Toyota Motor Corporation Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Toyota Motor Corporation since January 2007. These reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage.

Saudi ports are expected to have healthy growth in 2014, following a year of contractions for many of the facilities in 2013, though we note that these contractions followed a year of extraordinary growth in 2012 and so are not as negative as they first appear. Growth in Saudi ports will be supported by local shipping companies such as Bahri and Vela Shipping. The considerable investment into new facilities is also continuing apace.

The port of Riga is set to hold the top position in Latvia's maritime sector in terms of both total tonnage and container throughput in 2014, with growth forecast both in total cargo and box volumes. Riga has a strong position to build on in 2014 in terms of box throughput, enhanced by robust increase in volumes over the last four years.

Much has been made of the effect falling commodity & consumer demand has had on industry and retail. What of the companies whose job it is to transport the goods these businesses sell & use? This report looks at the difficulties falling commodity and consumer demand has had on Maersk Line, and how Maersk has become a victim of its own success amid a capacity glut, and its response, the P3 Network.

Global Passenger Rail industry guide provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The guide also contains descriptions of the leading companies including key financial metrics and analysis of competitive pressures within the market.

South Korea's exports witnessed a marginal contraction of 0.2% year-on-year (y-o-y) in January 2014, reversing a three-month expansion in Q4 2013 while imports performed likewise, contracting 0.9%, according to official customs data. That said, we are not concerned with the country's trade performance given that exports are likely to have been affected by the loss of two working days due to the Lunar New Year holidays. Korea's trade performance in the first quarter of every year is typically subjected to fluctuations in light of New Year festivities.

BMI remains optimistic toward Mexico's long-term growth outlook on the back of a booming manufacturing sector, an increasingly strong private consumer and favourable demographics. As a result we retain a cautious optimism towards the country's shipping sector.

Global Air Freight industry guide provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The guide also contains descriptions of the leading companies including key financial metrics and analysis of competitive pressures within the market.

Auto sales in the Philippines rose 17.5% year-on-year (y-o-y) in December 2013, to 17,185 units, as reported by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA). This saw 2013 sales hit a new record of 181,283 units, an increase of 15.7%. Our bullish view on the Philippines market continues to play out in line with industry trends, given that we forecast sales to grow 14.5% in 2013.