Recently published research from Business Monitor International, "United Arab Emirates Shipping Report Q1 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 12/23/2013 -- Headline Industry Data
- 2014 Jebel Ali and Port Rashid total tonnage throughput growth forecast at 5.4%, and to average 4.5% to 2018.
- Sharjah terminals container throughput (KCT and SCT) is forecast to grow by 5.9% in 2014, averaging 6.2% over the medium term.
- Jebel Ali container throughput is forecast to grow by 7.3% in 2014. Through to 2018, we expect growth to average 5.9%.
- Total trade real growth is forecast at 6.9% in 2014 and to average 5.3% through to 2018.
Key Industry Trends
GEFCO Deal Gives Hyundai Options: Hyundai Motor has reached a deal with logistics provider GEFCO, to handle the carmaker's transportation and distribution operations in Dubai for 12,000 cars a year. While the deal will give Hyundai a solid re-export hub for the region, BMI believes one of the most significant features of the deal is a new route to Iraq, where the company's sales have been curtailed by the war in Syria, which has cut off its main trade route.
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UASC To Ensure Sustainability Of Fleet: United Arab Shipping Company (UASC) plans to add 10 fuel-efficient container ships to its fleet. The firm is working with South Korean manufacturing firm Hyundai Heavy Industry to reduce the fuel consumption and running cost of the vessels, which will have the capacity to carry 14,000 or 18,000 twenty-foot equivalent units (TEUs).
Gulfnav To Exit Crude Shipping: Following a dramatic series of events, Gulf Navigation Holding (Gulfnav), the UAE-based tanker operator, has announced that it is to sell its two very large crude carriers (VLCCs), and has presumably also cancelled an expansion strategy that would have involved purchasing more of the mega vessels.
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