2012-10-28 15:23:19 - Fast Market Research recommends "Qatar Shipping Report Q4 2012" from Business Monitor International, now available
The Qatari shipping sector continues to be dominated by the export of the country's key commodity, natural gas, through the export terminal of Ras Laffan. Much of this is carried by national carrier Qatar Gas Transport (Nakilat). However, the country is looking to increase its container and dry bulk shipping presence as well, through the development of the New Doha Port, which seems to be being developed with an eye towards capturing some lucrative transhipment trade.
Headline Industry Data
* 2012 Port of Doha container throughput forecast to grow 6.1%, and to average 3.7% per annum to 2016 (including transferred operations to New Doha from 2015).
* 2012 Port of Doha total tonnage throughput forecast to expand by 6.7% to 8.31mn
tonnes, and to average 4.1% per annum over our forecast period (including transferred operations to New Doha from 2015).
* 2012 total trade growth forecast at 6.0%, and to average 1.3% over our forecast period as gas prices fall.
Full Report Details at
Key Industry Trends
Nalikat Takes Responsibility For Four VLGCs
Qatar's state-owned vessel operator Nakilat will be responsible for the in-house ship management and operations of its four very large gas carriers (VLGCs). The move will expand Nakilat's role in the country's maritime sector and is aimed at increasing efficiency and assuring operational excellence for the company's customers and stakeholders.
Cost Of New Doha International Port To Rise By 20%
The investment required for the construction of the New Doha International Port in Qatar is likely to rise by 20% from QAR25bn (US$6.86bn) to QAR30bn (US$8.24bn), it was reported in June. The expected increase is attributable to the rising global prices of some materials and supplies. The New Doha International Port is being constructed in three phases, including a container terminal, berths, an administration and customs complex and a berthing area for tug and pilot boats.
N-KOM Shipyard Reaches Full Capacity
Qatar's Nakilat-Keppel Offshore & Marine (N-KOM) shipyard is operating at full capacity, with the facility dry-docking seven liquefied natural gas (LNG) carriers in May 2012. N-KOM is part of the Erhama Bin Jaber Al Jalahma Shipyard and has completed marine, offshore and onshore projects for several local and international clients
Risks to Outlook
With the Qatari economy so reliant on the export of hydrocarbons, the key risk to our forecasts is a drop in the global price of gas. Although risks that popular unrest in the region might spill over into Qatar's political arena are minimal, investors' perception vis-a-vis the entire Middle East and North Africa (MENA) have been weakened, which could certainly impact Qatar's banking sector. At the very least, ongoing apprehension surrounding the scope and duration of the political crisis could see banks become significantly more hesitant to lend over the coming quarters, which could undermine our loan growth forecast. This, in turn, could affect BMI's trade and port throughput forecasts for Qatar.
On the wildcard side, should Iran follow through on its threats to close, or attempt to close, the Strait of Hormuz, then the resulting regional instability and disruption to trade would have a direct effect on Qatar's shipping sector, and on the country as a whole. A more likely scenario is that the country's New Doha Port will not be completed on time for 2015; the completion date has already been pushed back once.
Report Table of Contents:
- Qatar Shipping SWOT
- Qatar Political SWOT
- Qatar Economic SWOT
- Qatar Business Environment SWOT
Global Overview - Container Shipping
- More Positive Box Outlook In H212
- Box Supply Demand Imbalance Worsens
- Concerted Rate Push Must Continue
- Bunker Price Still A Worry
- 2013: A Year Of Mega Realisation
- Containerisation Revolution Hits Dry Bulk
Global Overview - Dry Bulk Shipping
- Stockpiling: A Threat To Dry Bulk Shipping
- Overcapacity A Long Term Problem
- Bankruptcies To Continue
- Vale's Forced Diversification Hedges Against China Slowdown
- Protectionism Trend Takes Off
Global Overview - Liquid Bulk Shipping
- Executive Summary: Unconventional Sectors To Outshine Traditional Crude
- Dirty Tanker Index To Remain Depressed
- Bunker Prices Down, But So Are Rates
- Table: BMI's Bunker Fuel Forecasts, 2010-2016 ($/Bbl)
- Iran Sanctions Continue To Affect Crude Shipping
- Saudi Arabian Merger Bad News For Other Operators
- Table: Biggest Operators Of VLCCs & ULCCs
- Bullish On Golar LNG Prospects
- Tight Market Creates Boom Times For Rig Sector
Industry Trends And Developments
Qatar Container Shipping Market Overview
- Port of Doha
- Table: Major Port Data, 2008-2016
- Table: Trade Overview,2008-2016
- Table: Key Trade Indicators,2008-2016
- Table: Main Import Partners (US$mn)
- Table: Main Export Partners (US$mn)
- Milaha (Formerly Qatar Navigation)
- Qatar Gas Transport Company (Nakilat)
- Maersk Line
- Mediterranean Shipping Company (MSC)
- CMA CGM
- COSCO Container Lines Company Limited (COSCON)
- Evergreen Line
- China Shipping Container Line (CSCL)
- Hanjin Shipping (Container Operations)
- Mitsui OSK Lines (MOL) (Container)
Qatar Demographic Outlook
- Qatar's Population By Age Group, 1990-2020 ('000)
- Qatar's Population By Age Group, 1990-2020 (% of total)
- Qatar's Key Population Ratios, 1990-2020
- Qatar's Rural And Urban Population, 1990-2020
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