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 Kuwait shipping
sector, where we have
used measurements of throughput at the country' s main port of Shuaiba as
an
indicator of how much demand there is for shipping. In 2008, the port
of Shuaiba handled an estimated
total of 22.3mn tonnes. The ports
container throughput reached an estimated 260,293TEU in the same
year. We
predict a decline in throughput at the port in 2009 with total cargo volumes
expected to fall by
1.7%. Container volumes at the port are also expected
to decline, with a 1.1% reduction in 2009 to reach
just 257,415TEUs.
BMI' s Kuwait 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 Kuwait 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 ports of Shuaiba and Shuwaikh with
analysis of the ports'
facilities, expansions and developments that are
already under way at the ports or planned to increase the
ports working
capabilities as well as details of multi-modal links from the ports to the
rest of the country' s
transport network.
Finally the Kuwait 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 Kuwait Shipping Report offers a country
specific
overview on Maersk' s shipping operations in the country.
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