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 slowdown that took
hold in Q408 is
persisting and looks set to get deeper in 2009. This can
be seen in our forecasts for the Nigeria shipping
sector, where we have
used measurements of throughput at the country' s main port of Lagos as an
indicator of how much demand there is for shipping. In 2008, the port of Lagos
handled an estimated total
of 19.468mn tonnes. We predict a slowdwon in
throughput at the port in 2009 with total cargo volumes
expected to grow
by just 0.1%.
BMI' s Nigeria 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 Nigeria 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 Lagos 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 Nigeria 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
Nigeria Shipping Report offers a country specific
overview on Maersk and
CMA CGM' s shipping operations in the country.
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