2013-09-17 09:12:33 - Fast Market Research recommends "Singapore Shipping Report Q4 2013" from Business Monitor International, now available
Our outlook for the port of Singapore for 2013 remains that it will not overtake the port of Shanghai for the crown of the world's largest container port, as we had envisaged several quarters ago. We now see such a scenario as unlikely to fall out, and we have revised down our outlook for growth in box handling in 2013 further, now forecasting growth of just 1.0%, compared with last quarter's forecast of 1.4% growth. This is based on poor monthly data coming out of the port, and the worsening outlook in the eurozone. We have revised down our GDP growth forecast for the currency bloc to a decline of 0.5%.
Headline Industry Data
* Port of Singapore's gross tonnage will
fall by 1.6% in 2013, with average annual growth at 1.6% during our forecast period to 2017.
* Port of Singapore box handling set to grow by 1.0% in 2013, with average annual growth set at 3.2% per annum over the medium term.
* The country's overall trade will grow by 1.6% in real terms in 2013, and will average 3.8% to 2017.
Full Report Details at
- www.fastmr.com/prod/684694_singapore_shipping_report_q4_2013.asp ..
Key Industry Trends
Singapore's Green Ship Programme To Be Expanded:
Singapore's Green Ship Programme was set to be expanded on July 1 2013. The programme would be able to recognise Singaporean-flagged vessels that are using sulphur oxide scrubber technology.
Singapore's Portek Secures Contract With Malaysia's Tanjung: Singapore-based port solutions company Portek International secured its first major contract with Malaysia's port of Tanjung Pelepas (PTP) in July. The company also secured some repeat orders from existing customers as the total engineering orders reached about US$5mn.
Singapore Takes Action Against Bunkering Breaches: The Maritime and Port Authority of Singapore in June revoked the operating permits of two bunkering firms. The permits were both pulled on June 24, with the authority citing breaches of the terms and conditions of the permits.
Key Risks to Outlook
There are considerable risks to our outlook for Singapore. This is due to the port's massive transhipment traffic, which makes it particularly susceptible to any adverse developments in the global economy - the contraction in both box and tonnage volumes experienced in 2009 when the global economic crisis took hold is clear evidence of this. With the eurozone debt crisis rumbling on, and the US economic recovery only now beginning to take root, there are serious risks to the downside.
Report Table of Contents:
BMI Industry View
- Business Environment
- Port Of Singapore Throughput
- Table: Major Port Data
- Table: Trade Overview
- Table: Key Trade Indicators
- Table: Top Import Destinations, 2004-2011, US$mn
- Table: Top Export Destinations, 2004-2011, US$mn
- Singapore Container Shipping Market Overview
Industry Trends And Developments
- Pacific International Lines (PIL)
- Pacific Carriers Limited (PCL)
Shipping - Global Industry View
- Box Supply: Overcapacity Remains, But ETRs Offer Hope
- Table: Q213 Container Vessel Deliveries
- Table: Container Line Mega Vessel Newbuild Plans
- Table: Q213 New Container Ship Orders
- Box Rates: Tough 2013, ETRs Remain The Ones To Watch
- Table: 2012 & 2013 SCFI Europe Base Port Average Freight Rate Overview
- Table: 2012 & 2013 SCFI USWC Base Port Average Freight Rate Overview
- Box Demand: Static Outlook Continues, But 2014 Looks Brighter
Global Company Strategy
- Maersk Line
- Mediterranean Shipping Company
- CMA CGM
- Evergreen Line
- COSCO Container Lines Company
- Macroeconomic Forecast
- Post Global Crisis Rebound Proof Of Structural Resilience
- Economy Facing Unique Risk Of Worsening Labour Crunch
- Consequences: A Mixed Bag
- Cost Competitiveness At Risk
- Expenditure Breakdown
- Demographic Outlook
- Table: Singapore's Population By Age Group, 1990-2020 ('000)
- Table: Singapore's Population By Age Group, 1990-2020 (% of total)
- Table: Singapore's Key Population Ratios, 1990-2020
- Table: Singapore's Rural And Urban Population, 1990-2020
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