Abstract
BMI is proud to launch the Venezuela Shipping Report for Q309. BMI launches
this 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 their cost cutting strategies to
protect their bottom
lines. The bulk dry sector has been yo-yoing, with
the Baltic Dry Index recording declines followed by
increases, and BMI
notes that one thing is for sure: the highs of 2008 will not be replicated in
2009 as
global demand for raw materials such as iron ore (the major dry
bulk commodity) remains weak. The
liquid bulk sector is witnessing similar
volatility as a result of low demand for oil and chemical
shipments. 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, indicating where
we see the major risks emerging and where we expect to see growth.
BMI
believes the global downturn in shipping that took hold in Q409 and has
persisted into 2009 looks
set to continue. We hold the belief that a
recovery is not set to begin until the second half of 2010. This
can be
seen in our forecasts for the Venezuelan shipping sector, where we have used
measurements of
throughput at the country' s main container port of Puerto
Cabello. We believe the port of Puerto Cabello' s
total throughput will
decline by 4.52% to 9.05mn tonnes in 2009. BMI forecasts a decline of 11.4%
to
717,172 TEUs at the port' s container facilities. A recovery is set to
begin in 2011. But we warn that the
port of Puerto Cabello will not be
able to recapture its pre-downturn volumes before the end of our 2009-
2013 forecast period.
BMI' s Venezuela 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 (2009-2013) as well as detailed analysis to
explain our assumptions behind these forecasts.
The BMI Venezuela 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
Puerto Cabello and La Guaira with analysis of
the ports' 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 Venezuela 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, different operating
sectors and most
recent activity.
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