New Market Report Now Available: Bulgaria Shipping Report Q2 2012

2012-04-24 16:20:08 - New Transportation research report from Business Monitor International is now available from Fast Market Research

Bulgaria's exposure to the eurozone crisis, with the zone a major client for the country's exports, will place downward pressure on Bulgaria's ports and maritime sector. We forecast both tonnage and container throughput growth at the nation's main port of Varna to slow in 2012.

The country's ports are focused on dealing with Bulgaria's domestic trade needs, with regional trade requirements

handled at neighbouring Romania's Port of Constantza. BMI does not see much opportunity for Bulgaria's port sector to expand its role, as a plan to expand the Port of Varna's container operations with a loan from Japan was turned down.


Full Report Details at
- www.fastmr.com/prod/359312_bulgaria_shipping_report_q2_2012.aspx


An opportunity which has raised its head more recently is Bulgaria's plan to concession the port. It hopes that Germany's major port operator Hamburger Hafen und Logistik (HHLA) will express an interest; however, while the offer has been extended, HHLA has yet to reply. BMI notes that HHLA already has a facility on the Black Sea at the Ukrainian port of Odessa, and is unlikely to be interested in a port that lacks development potential.

We therefore believe that Varna will continue to concentrate on developing to cater for Bulgaria's sole trade needs, and that it will remain a relatively small player in the Black Sea region.

Headline Industry Data

* 2012 Port of Varna tonnage throughput forecast to grow 1.55% to reach 8.38mn tonnes.
* 2012 Port of Varna container throughput forecast to increase 2.07% to reach 125,835TEUs.
* 2012 total trade growth forecast to rise 4.19%.

Key Industry Trends

Expanding Varna's Capacity

While the Port of Varna may have turned down the opportunity to expand its container facilities, the port is increasing its capacity in other areas. The port has extended its liquid bulk operations with a new loading line, which will raise the loading and unloading capacity of the 33,000 tonne capacity liquid cargo terminal that was developed at the port in 2001.

Danube Disrupted

Shipping on the Danube, while offering considerable potential for freight connections between European states, has been plagued by disruptions. Navigation on the waterway was firstly interrupted by low water levels and has more recently been halted due to freezing conditions that have partially frozen the waterway.

Risks To Outlook

Risks to the downside stem from a deepening in the eurozone crisis. Currently, a projected recession in the eurozone will lead to a projected slowing in throughput growth at Bulgaria's ports in 2012. A steeper decline in the eurozone would have a negative impact on throughput, however, with about 60% of the country's exports heading to the EU.

The entry of a port operator in Bulgaria would offer upside risk to our forecasts, but as we have highlighted there is little to attract a potential investor to the country's port sector at present.

Report Table of Contents:

SWOT Analysis
- Bulgaria Shipping SWOT
- Bulgaria Political SWOT
- Bulgaria Economic SWOT
- Bulgaria Business Environment SWOT
Global Overview - Container Shipping
- Summary -Carriers Face Threats Of Declining Demand And Overcapacity
- Overcapacity And Declining Demand To Collide, Asia-Europe Most Exposed
- Liner Strategies Indicate Carriers Preparing For The Worst
- What Is Wan Hai Lines Doing Right?
- Asia-Europe Landbridge To Take Market Share, But Not Usurp Shipping
- Container Shipping Must Meet Green Challenge Now
Global Overview - Dry Bulk Shipping
- Summary - Chinese Slowdown Threatens Sector Already In Troubled Waters
- Possibility Of Chinese Slowdown Presents Real Risk To Dry Bulk Shipping
- One Vale Mega-Vessel Calls To China, Remains Unclear If Rest Will Follow
- Dry Bulk Lines Suffering; Another Chinese Firm Withholds Charter Payments
- Oversized Dry Bulk Fleet To Continue Growing
Global Overview - Liquid Bulk Shipping
- Summary - Liquid Bulk Survival Tactics Deployed In Force In 2012
- 2012 Outlook For Crude Oil Tankers Remains Poor
- Frontline 2012 To Be Consolidating Force In Supertanker Sector
Industry Trends And Developments
Bulgaria Container Shipping Market Overview
Industry Forecast
- Port Of Varna Throughput Overview
- Table: Major Port Data - Port Of Varna, 2008-2016
- Trade
- Table: Trade Overview, 2008-2016
- Table: Key Trade Indicators, 2008-2016 (US$mn and % change y-o-y)
- Table: Bulgaria's Main Import Partners, 2002-2009 (US$mn)
- Table: Bulgaria's Main Export Partners, 2002-2009 (US$mn)
Company Profiles
- Navibulgar
- Maersk Line
- Mediterranean Shipping Company (MSC)
- CMA CGM
- COSCO Container Lines Company Limited (COSCON)
- Hapag-Lloyd
- APL
- Evergreen Line
- China Shipping Container Line (CSCL)
- Hanjin Shipping (Container Operations)
- Mitsui OSK Lines (MOL) (Container)

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