Boston, MA -- (ReleaseWire) -- 06/24/2014 -- Manila International Container Terminal (MICT) is set to hold the top position in Philippines' maritime sector in terms of container throughput in 2014, with BMI forecasting the continuation of steady growth.
The port of Cebu, one of the country's largest facilities in terms of total throughput is also expected to see an increase in its freight volumes.
Over the medium term, growth will continue at both the MICT and the port of Cebu.
Headline Industry Data
- 2014 port of Cebu tonnage throughput forecast to grow 5%, over the medium term we project a 22% increase.
- 2014 port of MICT container throughput forecast to grow 4%, over the medium term we project an 18% increase.
- 2014 total trade growth forecast at 5.30%.
Key Industry Trends
Manila Truck Ban Places Downside Risk T o Port Throughput Forecasts: We believe that the extension of the current large truck ban in Manila will have a number of negative impacts on various sectors if it continues over the longer term. In particular we see downside risks to our road freight tonnage and port throughput forecasts, and the possible downwards revision of our ratings for liner connectivity and import times. This could also depress our BMI Logistics Index ratings for the Philippines on the one hand, and drive up import costs on the other.
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ICTSI's Africa Expansi on Continues, With DRC Project T o Prove Most Challenging Yet : Philippine port operator International Container Terminal Services, Inc (ICTSI) continues to expand beyond its traditional Asia focus, adding another Africa terminal to its portfolio with a plan in place to build a USD100mn container terminal in the Democratic Republic of the Congo (DRC). The container terminal operator already boasts operations in Madagascar and Nigeria and, although the DRC will offer ICTSI further growth options in the Africa container shipping market, it will, in BMI's opinion, be ICTSI's most challenging development to date.
Risks To Outlook
The strong base for...
The Philippines Shipping Report has been researched at source and features latest-available data and Business Monitor International (BMI)'s independent forecasting, critically analysing international transport of dry bulk and containers. The report evaluates the global commodities and trade backdrop, alongside in-depth country-specific analysis of trade prospects. The report also contains company profiles covering leading multinational and national shipping companies and analysis of latest industry news, trends and regulatory developments in Philippines.
BMI's Philippines Shipping Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the shipping industry in Philippines.
- Benchmark BMI's independent shipping industry forecasts for Philippines to test other views - a key input for successful budgeting and strategic business planning in the Philippine shipping market.
- Target business opportunities and risks in Philippines through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
- Exploit the latest competitive intelligence and company SWOTS on your competitors and peers including multinational and national companies.
Summary of BMI's key industry forecasts, views and trend analysis covering shipping, major investments and projects and significant multinational and national company developments.
SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the state's shipping sector, which carefully evaluates the short- and medium-term issues facing the industry.
Analysis of the capacity, terminals and planned development of the major ports in each country, including data on throughput and total tonnage.
Industry Forecast Scenario
Historic data series (2008-2012) and forecasts to end-2017 for all key industry and macroeconomic indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Major port freight throughput (tonnes/teu); overall freight throughput (teu); total imports (US$bn) and exports (US$bn).
Company profiles include business activities, leading products and services, company strategy, trends and developments and economic performance analysis.
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