2013-12-27 09:31:47 - Recently published research from Business Monitor International, "Venezuela Shipping Report Q1 2014", is now available at Fast Market Research
Venezuela's shipping and ports sector has been highly affected by the country's unstable political and economic situation. We expect near-recessionary economic conditions to prevail over the coming quarters, characterised by a slowdown in private consumption and exports, which will have a negative knock-on effect on shipping and port volumes.
We believe President Nicolas Maduro will continue Chavez's policies of elevated social spending, which will result in sizeable fiscal deficits. Inflation will remain elevated, at the highest level in Latin America, and the operating environment will remain very precarious for foreign multinationals in the country. Despite the less than ideal operating environment, Venezuelan ports are seeing some foreign investment, with China Harbour Engineering Company involved in building the new container terminal at
the port of Cabello, the largest in the country.
Full Report Details at
- www.fastmr.com/prod/754693_venezuela_shipping_report_q1_2014.asp ..
Headline Industry Data
* 2014 Puerto Cabello tonnage throughput growth forecast at 1.7%. Slow growth expected to continue over the medium term, averaging 2.6% to 2018.
* 2014 Puerto Cabello container throughput to grow by 7.7%, and to average 8.6% over our forecast period.
Key Industry Trends
PDV Marina Finally Receiving Tanker Orders: PDV Marina, the shipping arm of Venezuelan oil major Petroleos de Venezuela (PdVSA), finally has something to celebrate with the news that two Chinese-manufactured tankers have arrived in the Latin American country. The company's fleet has been beset with bad news in the past few months with reports that launched vessels have not been delivered and that two of the company's ships have been seized due to outstanding debts.
Massive Backlog Of Unloaded Dry Bulk Cargoes At Puerto Cabello: With food imports into Venezuela on the rise, and a lack of landside infrastructure in docks as well as a deficit of cargo trucks, Venezuelan ports are seeing long queues of bulk cargo vessels waiting to unload at ports. In mid-October 2013, 17 load boats were anchored at Puerto Cabello dock loaded with 353,787 tons of rice, corn, sugar, and other staples. Even though authorities allowed extra unloading and clearance operations on September 21 2013, the number of bulk ships loaded with food arriving in the dock increased.
Key Risks To Outlook
The major risk to our bleak financial account outlook is that we could yet see significant investment from more politically allied economies, such as China and Russia. Although we believe the country's business environment remains precarious for private sector investors, Venezuela has already been able to create a US $32bn joint fund with China for development projects. Chinese investment in Venezuelan ports, in particular, provides upside risk to our shipping forecasts.
Report Table of Contents:
BMI Industry View
- Business Environment
- Puerto Cabello Throughput
- Port Of La Guaira Throughput
- Table: Major Port Data, 2011-2018
- Table: Trade Overview, 2011-2018
- Table: Key Trade Indicators, 2011-2018
- Table: Main Import Partners, 2004-2011
- Table: Main Export Destinations, 2004-2011
- Venezuela Container Shipping Market Overview
Industry Trends And Developments
- Petroleos de Venezuela Marina
Shipping - Global Industry View
- Box Demand: Container Outlook Strengthening In 2014
- Box 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: Venezuela - Economic Activity
- Table: Venezuela's Population By Age Group, 1990-2020 ('000)
- Table: Venezuela's Population By Age Group, 1990-2020 (% of total)
- Table: Venezuela's Key Population Ratios, 1990-2020
- Table: Venezuela's Rural And Urban Population, 1990-2020
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
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