2013-12-12 14:24:16 - New Transportation market report from Business Monitor International: "Colombia Shipping Report Q1 2014"
BMI forecasts growth across the board at Colombian ports in 2014, as the facilities benefit from rising private consumption levels in the Latin American country. Growth over the medium term will be supported by this and the opening of the expanded Panama Canal, which would see more, and larger, vessels calling at the country's ports. This possibility has piqued the interest of international container terminal operators such as International Container Terminal Services Inc (ICTSI). Throughput volumes will also be supported by the growing dry bulk export story, in particular coal.
Headline Industry Data
* The Port of Cartagena will see total tonnage volume increase by 9.8% to 18.55mn tonnes in 2014, and will average growth of 12.3% to 2018.
traffic at Cartagena will grow by 11.1% to 2.18mn twenty-foot equivalent units (TEUs) in 2014.
* Volume at the Pacific port of Buenaventura will rise by 2.4% to 10.14mn tonnes, while container traffic will rise 3.7% to reach 579,354 TEUs.
Full Report Details at
Key Industry Trends
Buenaventura Attracting Major Players: Two major international container port operators are joining forces in Colombia, as PSA International invests in ICTSI's facility at the port of Buenaventura. Given the strong growth outlook for the port, both in 2014 and over the medium term, BMI is unsurprised that PSA is looking to increase its exposure to Latin America through this investment. Channel Deepening Priority For Buenaventura: With the coming expansion of the Panama Canal, the Colombian port of Buenaventura has identified the need to deepen its channel as a priority, in order to ensure that it is capable of handling the larger ships that are expected to ply the waters in the wake of the widening of the canal's locks.
Santa Marta Receives Ecoport Status From Lloyd's Register: Lloyd's Register has certified the Colombian port of Santa Marta as the world's first non-European ecoport. The status was awarded by the European Foundation ECO SLC. The status of ecoport is awarded to ports after they complete a self-diagnosis-method checklist.
Key Risks To Outlook
For the medium term, the main risk to our positive outlook for Colombia remains the possibility of a hard landing for China; we expect China to take up the shortfall as US imports of Colombian coal decrease. A severe slowdown in China would kill Chinese demand for raw materials such as iron ore and coal, leaving Colombia to look elsewhere for an export market. We have recently revised up our growth outlook for the Asian giant, yet we believe that the can is being kicked down the road and that a hard landing is still distinctly possible.
On the upside, we believe that Colombia is set to benefit from its FTA with the US. The country is already in desperate need of improved transport infrastructure to export its coal reserves, and since this FTA is likely to increase US imports it should bring with it some much needed investment into Colombia's port infrastructure. The opening of the expanded Panama Canal in 2015 could also provide upside potential to Colombia's ports.
Report Table of Contents:
BMI Industry View
- Business Environment
- Port Of Cartagena Throughput
- Port Of Buenaventura Throughput
- Table: Major Port Data, 2011-2018
- Table: Trade Overview, 2011-2018
- Table: Key Trade Indicators, 2011-2018
- Table: Main Import Destinations, 2004-2011
- Table: Main Export Destinations, 2004-2011
- Colombia Container Shipping Market Overview
Industry Trends And Developments
Shipping - Global Industry View
- Box Demand: Container Outlook Strengthening In 2014
- Supply: Slowing New Vessel Deliveries To Decrease Overcapacity Pressure
- Table: Q313 Container Vessel Deliveries
- Table: 2013 Mega Vessel Orders
- Box Rates: Rate Push In Preparation For 2014
- Table: 2012 & 2013 SCFI Europe Base Port Average Freight Rate Overview
- Table: 2012 & 2013 SCFI USWC Base Port Average Freight Rate Overview
Global Company Strategy
- Maersk Line
- Mediterranean Shipping Company
- CMA CGM
- Evergreen Line
- COSCO Container Lines Company
- Economic Analysis
- Table: Colombia - Gdp By Expenditure, Real Growth %
- Table: Colombia's Population By Age Group, 1990-2020 ('000)
- Table: Colombia's Population By Age Group, 1990-2020 (% of total)
- Table: Colombia's Key Population Ratios, 1990-2020
- Table: Colombia's Rural And Urban Population, 1990-2020
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