Abstract
The shipping industry entered 2009 in a state of crisis. All shipping sectors
had been hit hard, with the dry
bulk sector struggling to recover from a
plunge in November 2008 that took the Baltic Dry Index to a
nine-year low.
Rumours persisted that containers were being shipped for a little as US$200
and that the
only thing keeping the liquid bulk sector afloat was that
tankers were being used for floating storage
rather than the actual
transport of oil. It is in the climate of uncertainty that BMI has launched a
new set
of reports to its portfolio the BMI Shipping Reports.
BMI' s
research and analysis of the shipping sector shows that a downturn that took
hold in Q408 is
persisting and looks set to get deeper in 2009. This can
be seen in our forecasts for the Hong Kong
shipping sector, where we have
used measurements of throughput at the country' s main port of Hong
Kong as
an indicator of how much demand there is for shipping. In 2008, the port of
Hong Kong handled
a total of 259mn tonnes. The ports container throughput
reached 24.5mnTEU in the same year. We
predict a decline in throughput at
the port in 2009 with total cargo volumes expected to fall by 8.2%.
Container volumes at the port are also expected to decline, with a 5.3%
reduction in 2009 to reach just
23.2mnTEUs.
BMI' s Hong Kong Shipping
Report offers data from previous years of its port throughput, which has
been
used along with our forecasts of the country' s imports and exports to
predict throughput trends for the
next five years (2009-2012) as well as
detailed analysis to explain our assumptions behind these forecasts.
The
BMI Hong Kong Shipping Report offers in-depth analysis into the three main
shipping sectors of
container, bulk dry and bulk liquid and detailing the
strategy that major shipping companies in these
sectors have so far
implemented to protect themselves against the downturn. We also offer analysis
of
other tactics that we feel operators in these sectors could use over
2009 as trade continues to contract.
The report offers an overview of
country' s main port of Hong Kong with analysis of the port' s facilities,
expansions and developments that are already under way at the port or planned
to increase the ports
working capabilities as well as details of
multi-modal links from the port to the rest of the country' s
transport
network.
Finally the Hong Kong Shipping Report offers an in-depth overview
of 11 of the main global shipping
companies (China Shipping, CMA CGM,
COSCO, Evergreen, Hanjin, Hapag Lloyd, Maersk, MOL,
MSC, NOL, NYK.) BMI
analyses the firms' vital financial statistics, the companies' different
operating
sectors and their most recent activity. On top of this, the Hong
Kong Shipping Report offers a country
specific overview on Maersk and CMA
CGM' s shipping operations in the country.
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