2013-02-02 16:05:12 - Fast Market Research recommends "Latvia Shipping Report Q1 2013" from Business Monitor International, now available
The port of Riga is set to hold the top position in Latvia's maritime sector in terms of both total tonnage and container throughput in 2013, after another year of healthy growth in 2012.
Riga has a strong position to build on in 2013, enhanced by robust year-on-year (y-o-y) growth in total throughput and a double-digit increase in box volumes in 2012.
Over the medium term, we project further throughput growth at the port of Riga. Ventspils, the country's second largest port in terms of the total throughput, continued its recovery in 2012 and reached tonnage levels comparable to the ones it had before the downturn.
Headline Industry Data
* Port of Riga tonnage throughput forecast to grow 2.9% in 2013; over the
medium term (2013-2017), we project a 14% increase.
* Port of Liepaja container throughput forecast to grow 8.6% in 2013; over the medium term (2013-2017), we project a 45% increase.
* 2013 total trade growth forecast stands at 3.3%.
Full Report Details at
Key Industry Trends
Belarus' mulling of redirecting its shipments via Russian ports rather than the Baltic states' ports will be a major blow for ports in Latvia and Lithuania, specifically the ports of Riga and Klaipeda. If Belarus moves forward with this plan, it will place downward pressure on our forecasts for Baltic states' ports, because although the positive domestic outlook of these states has been a major growth driver, the facilities have been positioning themselves as gateways for trade in and out of the high-growth regions of the Commonwealth of Independent States (CIS). A redirection of freight via Russian ports would benefit the ports of Kaliningrad, St Petersburg and Ust-Luga in particular, highlighting a trend we have noted in the freight transport sector of Belarus and Russia moving closer together.
Risks to Outlook
The base for growth at Latvia's ports stems from BMI's positive outlook for the country's economy, with real GDP growth estimated to come in at 4.2% for 2012 and 3.9% growth anticipated for 2013. Our positive medium-term forecast for Latvia's ports' throughput also holds upside risks, with Latvia getting better connected, displaying a solid domestic demand outlook and developing its role as a gateway for cargo to and from Russia and Central Asia. This upside risk is further enhanced by Russia's membership of the World Trade Organization, on the back of which Latvian ports expect to tranship more of its neighbour's imports and exports.
The main risk to our forecasts for Latvia remains the persistent eurozone sovereign debt crisis. A further deepening of the crisis would pose downside risks to most of our forecasts for Latvia's economy and our port throughput projections.
Russia's development of the Ust-Luga port near St Petersburg, as it seeks to handle a larger percentage of its own trade needs, creates another downside risk to our forecasts as it is set to place downward pressure on Baltic states' port throughput.
The possible redirection of Belarus' cargo to Russian ports adds one more downside risk to our forecasts. However, the investment that Russian firms continue to make into Baltic states' ports in an effort to diversify away from an over-reliance on liquid bulk creates an upside risk.
Report Table of Contents:
BMI Industry View
- Latvia Q1 2013
- Business Environment
Global Company Strategy
- Container Shipping: 2013 Offers Promise, But Will Be Tough
- Dry Bulk: Stimulus Offers Short Term Blip
- Liquid Bulk: 2013 To Offer Little Respite For Tanker Operators
Industry Trends And Developments
- Latvia Q1 2013
- Port of Riga Throughput Outlook Q1 2013
- Port of Ventspils Throughput Outlook Q1 2013
- Table: Table: Major Port Data, 2010 - 2017
- Table: Table: Trade Overview, 2010 - 2017
- Table: Table: Key Trade Indicators, 2010 - 2017
- Table: Table: Main Import Partners (US$mn)
- Table: Table: Main Export Partners (US$mn)
- Latvia Container Shipping Overview
Latvia Company Profile
- Latvian Shipping Company (LASCO)
- Latvian Shipping Company (LSC)
Global Company Strategy
- Maersk Line
- Mediterranean Shipping Company
- CMA CGM
- Evergreen Line
- COSCO Container Lines Company
- Hanjin Shipping
- China Shipping Container Line (CSCL)
- Mitsui OSK Lines
- Latvia Demographic Data
- Table: Latvia's Population By Age Group, 1990-2020 ('000)
- Table: Latvia's Population By Age Group, 1990-2020 (% of total)
- Table: Latvia's Key Population Ratios, 1990-2020
- Table: Latvia's Rural And Urban Population, 1990-2020
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