Boston, MA -- (SBWIRE) -- 04/30/2014 -- Following a year in which BMI believes saw increasing volumes in all freight modes, 2014 will signal further growth across the whole of Turkey's freight transport sector in line with our macroeconomic forecasts for the country.
Total trade is projected to pick up with our Country Risk desk forecasting a y-o-y increase of 3.95% in 2014 following an estimated growth of 4.35% in 2013.
Road freight is to continue to dominate the sector and is projected to grow by 6% in 2014. The mode has made a prompt recovery from the downturn and enjoys the benefits of not having to make any reductions in road haulage volumes, such those pledged by the neighbouring EU.
Growth in rail freight volumes will be helped by the Marmaray rail tunnel under the Bosphorus Strait, which was opened in 2013.
The throughput at the Port of Ambarli, one of Turkey's largest ports, is set to continue growth in terms of tonnage. Over the medium term we project further increase in freight volumes at the port.
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Headline Industry Data
- 2014 Air freight tonnage is expected to grow by 2.8%
- 2014 Rail freight is forecast to grow by 1.2%
- 2014 Port of Ambarli general and liquid bulk cargo throughput is forecast to grow by 9.7%
- 2014 Road freight is forecast to grow by 6.4%
- 2014 Total real trade growth is forecast at 4.0%.
Key Industry Trends
Bulgaria-Turkey Talks Resolve Road Haulage Disagreements- A long-term solution that will offer to permanently solve the road haulage disagreements between Bulgaria and Turkey was found in the wake of the transport ministers of both states' February meeting to discuss the issues that have led to delays for road freight at the country's borders. A long-term agreement was vital to ensure smooth road freight links between states and to bolster trade.
Derince Port Privatisation Attempt Fails- In January, the Turkish tender committee cancelled a tender to privatise the Turkish port of Derince as bidders failed to meet the US$516mn minimum price set by the committee. The initial price was fixed at US$180mn during the first round, which was increased to US $252mn in the second. The price in the third round was further escalated to US$302mn.
EBRD Lends US$92mn for AsyaPort Transhipment Hub- Turkey has secured US$92mn in financial assistance from the European Bank of Reconstruction and Development (EBRD) for its first transhipment container terminal AsyaPort, it was announced at the end of 2013. The new terminal will support the country in its efforts to strengthen its infrastructure and thus sustain its strong economic growth. The loan will be directed towards the design, construction, operation and maintenance of the new container terminal in the town of Barbaros in Tekirdag province.
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