2013-02-20 08:29:28 - Fast Market Research recommends "Turkey Freight Transport Report Q1 2013" from Business Monitor International, now available
Following a year in which BMI believes there was pronounced growth in only one freight mode, 2013 will signal growth in all freight modes in line with an improved macroeconomic outlook.
Total trade is projected to pick up with our Country Risk desk forecasting a real terms y-o-y increase of 5.70% in 2013 following an estimated growth of 2.35% in 2012.
Road freight is to continue to dominate the sector and is projected to grow by 3% in 2013. The mode has made a prompt recovery from the downturn and enjoys the benefits of not having to make any reductions in road haulage volumes, such those pledged by the neighbouring EU for environmental reasons.
Full Report Details at
- www.fastmr.com/prod/536575_turkey_freight_transport_report_q1_20 ..
Throughput at the
Port of Ambarli, one of Turkey's largest ports, is set to resume growth in terms of tonnage. Over the medium term we project further increases in freight volumes at the port.
Headline Industry Data
* 2013 Air freight tonnage is expected to grow by 6.6%
* 2013 Rail freight is forecast to grow by 2.8%
* 2013 Port of Ambarli general and liquid bulk cargo throughput is forecast to grow by 6.3%
* 2013 Road freight is forecast to grow by 2.8%
* 2013 Total real trade growth is forecast at 5.7%
Key Industry Trends
Turkey Quits Motorway Project: Turkey will not take part in the construction of a major motorway from Romania via Bulgaria to Turkey and Greece after it decided to quit the project. The 300km motorway will connect the town of Ruse on Bulgarian border with Romania with the town of Svilengrad in the south of Bulgaria, near the border with Greece and Turkey.
Borusan Acquires Balnak: Borusan Lojistik received approval from the competition authority for the acquisition of the freight forwarder Balnak. The two companies' combined turnover amounts to US$600mn. Both companies will carry on their operations as usual until the integration process completed. The Boston Consulting Group (BCG) will be advising on strategic integration, while Odgers Berndtson will be consulting on HR and cultural integration.
DP World to Enter Turkish Container Market: Although 2012 has been a year of divesting assets for DP World, 2013 is set to be a year of expansion for the company with its latest Brazil and UK container terminal projects to be realised and the firm's Turkey greenfield project expected to get underway. Construction of DP World Yarimca, which is due to be built in Korfez, Turkey, will mark DP World's entrance into Turkey's container market, which has been growing rapidly and holds high growth potential over the medium term.
Azeri Oil Shipments Via Ceyhan Increase: The State Oil Company of Azerbaijan (SOCAR) has released data on Azeri oil exports via the Baku-Tbilisi-Ceyhan (BTC) export pipeline. A total of 27.3mn tonnes of oil were shipped from Turkey's Ceyhan Port in January-November 2012, with November's figure of 2.24mn tonnes being 3.4% higher than previous month's total.
Turkish Airlines Continues Fleet Expansion: Turkish Cargo's parent Turkish Airlines continued increasing its fleet, deciding to add 15 Boeing 777-300ER type aircraft to its fleet in 2014-2017 along with incorporating the same number of A330-300 type aircraft between 2014 and 2016. The company is also holding an option to purchasing five more Boeing aircraft of the same type by 2017.
Risks to Outlook
The case for projecting growth in the country's freight transport stems from BMI's outlook for the Turkish economy. Our 2013 real GDP growth forecast for Turkey is 4.4%, compared with 2012's estimated growth of 3%.
The major risk to Turkey's macroeconomic trajectory stems from its external environment. A continued deterioration in global economic activity will weigh heavily on foreign investment and the export sector, creating downside risk to our forecasts for country's freight volumes.
The Arab Spring uprisings, which caused supply chain problems, and the uncertainty that remains in the region as well as growing tensions between Turkey and Israel, all create further downside risk to our forecasts.
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
For more information about these or related research reports, please visit our website at www.fastmr.com
or call us at 1.800.844.8156.