2013-01-30 08:39:48 - Recently published research from Business Monitor International, "Kuwait Shipping Report Q1 2013", is now available at Fast Market Research
Kuwait's ports have struggled to recover the volumes they enjoyed prior to the global economic downturn, but BMI expects this recovery to be completed in 2013. Downside risks from industrial actions by ports and customs workers appear to have dissipated.
What does bode well for Kuwait's container ports is our macroeconomic outlook for the country. Oil prices remain elevated, and this is translating into spending by the Kuwaiti government. This will help maintain growth at the Gulf state's ports, both through spending on infrastructure projects impacting on total tonnage throughputs, and consumer spending boosting imports of containerised goods. However, delays to infrastructure projects could hamper tonnage throughput.
Full Report Details at
Headline Industry Data
* 2013 Port of Shuaiba tonnage
throughput growth forecast at 4.0% and to average 5.3% to 2017.
* 2013 Port of Shuwaikh container throughput forecast to grow 7.2% and to average 7.2% to 2017.
* 2013 total trade growth forecast to grow 3.0% and to average 4.1% to 2017.
Key Industry Trends
Rickmers-Linie Completes LPG Cylinder Transportation
German shipping company Rickmers-Linie announced in October 2012 that it has completed the transportation of three liquefied petroleum gas (LPG) storage tanks to Shuaiba in Kuwait from Kuantan, Malaysia. The 475-tonne LPG units were fabricated by KNM Process System and were destined for the new filling station of Kuwait Oil Tanker Company that will offer 15mn cylinders of gas annually.
MP Calls For Active Role In Kuwaiti Mubarak Terminal
Iraqi MP Alia Nsaif in Sepember 2012 called upon the Iraqi Transport Ministry to have an active role in the development of the Kuwaiti Mubarak Terminal. Nsaif said that the ministry must fight to preserve Iraqi rights over the terminal, which is being built in the country. The development of the Kuwaiti facility has caused tensions between the two countries, with parties in Iraq believing that the port is intended to cater for Iraqi business, thereby threatening the development of the new Iraqi Grand Fao port project.
KOTC To Launch Newbuilding Plan
State-owned Kuwait Oil Tanker Company (KOTC) is planning to start another newbuilding programme it was revealed in August 2012. A Korean shipbuilder's sales official has said that KOTC contacted an undisclosed shipyard and said that it would give contract conditions following the end of Ramadan.
Risks To Outlook
Downside risks to our throughput forecasts come in the form of the exposure to oil price volatility and a slowdown in global demand. Despite the broadly healthy picture of Kuwait's public finances, its high reliance on oil - which accounts for 94% of total revenues - exposes the budget and, consequently, trade to oil price volatility.
Given the small country's location in the Gulf, Kuwait is vulnerable to any significant escalation in tensions between Iran and Israel and the West, especially if any attempt to close the Strait of Hormuz was made.
Report Table of Contents:
- Kuwait Shipping SWOT
- Kuwait Political SWOT
- Kuwait Economic SWOT
- Kuwait Business Environment SWOT
Global Overview - Container Shipping
- 2013 Offers Promise, But Will Be Tough
- Transpacific Demand To Tick Up
- Supply Issues To Become More Acute
- Another Year Of Strict Capacity And Rate Management
Global Overview - Dry Bulk Shipping
- 2013: Stimulus Offers Short Term Blip, Demand To Slip
- 2013: Supply Problems Remain And It Is Too Tough For Some
Global Overview - Liquid Bulk Shipping
- 2013 To Offer Little Respite For Tanker Operators
- Cross-Basin Trade To Aid Supertanker Operators
- Chinese Pool To Drive Down Rates
- Sanctions Hit Crude Shipping Sector
Industry Trends And Developments
- Kuwait Container Shipping Overview
- Kuwait Liquid Bulk Shipping Overview
- Port of Shuwaikh Throughput Outlook
- Port of Shuaiba Throughput Outlook
- Table: Major Port Data, 2010-2017
- Table: Trade Overview, 2010-2017
- Table: Key Trade Indicators, 2010-2017
- Table: Main Import Partners (US$mn), 2002-2009
- Table: Main Export Partners (US$mn), 2002-2009
- Kuwait Oil Tanker Company (KOTC)
- United Arab Shipping Company (UASC)
Kuwait Demographic Outlook
- Table: Kuwait's Population By Age Group, 1990-2020 ('000)
- Table: Kuwait's Population By Age Group, 1990-2020 (% of total)
- Table: Kuwait's Key Population Ratios, 1990-2020
- Table: Kuwait's Rural And Urban Population, 1990-2020
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