Abstract
BMI is proud to launch the Estonia Shipping Report for Q309. BMI launches its
latest addition to its
shipping report portfolio at a time of severe
downturn in the global shipping sector. Container lines are
releasing
dismal Q109 results and are announcing cost cutting strategies to try and
protect their bottom
lines. The bulk dry sector has been yo-yoing, with
the Baltic Dry Index recording declines followed by
increases. BMI notes
that one thing is for sure, and that is that the highs of 2008 will not be
replicated in
2009, as the demand for raw materials, such as iron ore (the
major dry bulk commodity), remains weak.
The liquid bulk sector is seeing
a similar decline, as both oil and chemical demand slips. The main factor
keeping the liquid sector afloat is the use of very large crude carriers
(VLCCs) for storage. It is in this
climate of uncertainty that BMI strives
to offer an in-depth overview of the market, the major emerging
risks and
where we expect to see growth.
BMI believes that the global downturn in
shipping that took hold in Q408 looks set to continue. We
believe that a
recovery will not begin until the second half of 2010. This can be seen in our
forecasts for
the Estonia shipping sector, where we have used measurements
of throughput at the country' s main port,
Tallinn. We believe that total
throughput at Tallinn will decline by 25.5% to 21.7mn tonnes in 2009. BMI
forecasts a decline of 9.96% to 162,900 twenty-foot equivalent units (TEUs) at
the port' s container
facilities. A recovery is set to begin in 2010. But
we warn that the Port of Tallinn will not be able to
recapture its
pre-downturn volumes until 2011.
BMI' s Estonia Shipping Report offers data
on port throughput from previous years. This has been used,
along with our
forecasts of the country' s imports and exports, to predict throughput trends
for the next
five years (2009-2013). We also include detailed analysis to
explain the assumptions behind these
forecasts.
The BMI Estonia
Shipping Report offers in-depth analysis into the three main shipping
sectors,
container, dry bulk and liquid bulk, and details the strategy
that major shipping companies in these sectors
have implemented to protect
themselves against the downturn. We also offer analysis of other tactics
that
we believe operators could use over 2009, as trade levels continue to
contract.
The report has an overview of country' s main port, Tallinn, with
analysis of the port' s facilities,
expansions and developments that are
under way or are planned, as well as details of multi-modal links
from the
port to the rest of the country' s transport network.
Finally the Estonia
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.
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