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 Philippine
shipping sector, where we have
used measurements of throughput at the country' s main port facility of the
Manila International Container Terminal (MICT) as an indicator of how much
demand there is for
shipping. In 2008, the MICT handled an estimated total
of 15.6mn tonnes. The ports container throughput
reached an estimated
1.36mnTEU in the same year. We predict a decline in throughput at the port in
2009
with total cargo volumes expected to fall by 3.5%. Container volumes
at the port are also expected to
decline, with a 3.4% reduction in 2009 to
reach just 1.31TEUs.
BMI' s Philippines 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 Philippines
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 MICT and Cebu 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 Philippines 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 Philippines Shipping Report
offers a country
specific overview on Maersk' s shipping operations in the
country.
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