PR Log (Press Release) –
Dec 07, 2009 – The major developments within Bahrain's maritime sector over the last quarter have been dominated by the news of the opening of the country's new Khalifa bin Salman Port (KBSP), also known as the Bahrain Gateway, on April 1 2009. The port is part of APM Terminal's Middle East portfolio. The port's launch of operations marks the retirement of Bahrain's Mina Salman port, which will transfer its operations to the KBSP. The KBSP catered for its first vessel on April 15 2009, when APL's 2,500-TEU Dalian pulled into the port on its SRX service. The transfer of operations from Mina Salman to the KBSP is progressing, with Eye For Transport reporting on April 23 2009 that all container operations at Mina Salman had ceased and were now being undertaken at the KBSP. BMI has no information on when other cargo operations at the port of Mina Salman are to finish, but believes it will be before the end of 2009. Based on this assumption, BMI has revised its forecasts for throughput at Bahrain's ports in 2009. Container throughput has now been revised down to 0 for 2009 and for the rest of the mid term, as the port has now been taken out of service. This means all containers will now pass through KBSP and we estimate that the throughput for 2009 will be 259,489 TEUs. This is a decrease on the throughput figure registered by Mina Salman in 2008 (269,331 TEUs) and is a reflection of the impact that BMI expects the economic downturn will have on Bahrain's port sector. We believe that with Mina Salman's throughput being removed, KBSP will handle 427.6mn tonnes in 2009. This is a decrease on the 442mn tonnes Mina Salman catered for in 2008 and the decline can be attributed to the global downturn in trade, which will not leave Bahrain's trade sector unscathed. BMI forecasts that a steady recovery in throughput will begin in 2010, with tonnage volumes passing through the port expected to increase by 2.4% to 437.8mn tonnes. BMI believes average growth between 2011 and 2013 will remain steady at 2.4%, allowing the KBSP to handle an estimated 469,758mn tonnes in 2013. As well as an in-depth analysis of Bahrain's shipping sector, the Q309 Bahrain Shipping Report also offers a global overview of the dry bulk, liquid bulk and container sectors and overviews of the 11 largest shipping lines and their strategies over the quarter to weather the downturn in trade volumes.
For more information or to purchase this report, go to http://www.fastmr.com/catalog/product.aspx?productid=43254
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.
BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including Daily Alerts, monthly regional Insights, and in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment