Boston, MA -- (SBWIRE) -- 10/14/2014 -- Singapore's role as a global transhipment hub is both a blessing and a curse. In times such as these, when key markets in Europe and the US are either recessionary or growing sluggishly, it can be hit by depleted freight volumes. In 2014, we forecast growth in both port and airport total tonnage volumes, though it will be sluggish. Both facilities are investing considerably, and we are confident of growth over the medium and long term.

Headline Industry Data:

- 2014 air freight tonnage through Changi International Airport to grow 1.1% after a 0.8% expansion in 2013. Growth over our forecast period (2014-2018) to average 1.2% a year.

- The Port of Singapore's gross tonnage will grow by 7.2% in 2014, with average annual growth at 5.4% during our forecast period.

- The country's overall trade will grow by 3.2% in real terms in 2014, to average 4.1% to 2018.

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Key Industry Trends

Port's Throughput Up 4.1% In June: The port of Singapore registered a 4.1% year-on-year (y-o-y) rise to 2.84mn twenty-foot equivalent units (TEUs) in June, according to preliminary figures released by the Maritime and Port Authority of Singapore (MPA). On a month-on-month basis, the port's volume fell by 3.6% from 2.94mn recorded in May.

ANA Cargo Introduces New Freighter Service: Japan-based airline ANA Cargo has broadened the scope of its offerings with the launch of a new freighter service operating between Okinawa, Japan and Singapore Changi Airport. The six weekly Okinawa-Singapore-Tokyo Narita services, which deploy the Boeing 767-300F airplane, were due to be operational from May 14.

Hapag-Lloyd Unveils TSX Service: Germany-based shipping services provider Hapag-Lloyd has unveiled a new feeder service dubbed the Thailand Singapore Express (TSX) between Thailand and Singapore, according to a company press release. The new service will call at Laem Chabang, Singapore and back to Laem Chabang.

Key Risks To Outlook

We continue to believe that the main risks for Singapore's freight...

The Singapore Freight Transport Report has been researched at source, and features latest-available data covering commercial transport and logistics by road, rail, air and water; industry forecasts, company rankings covering leading national and multinational operators; and analysis of latest industry trends, opportunities, projects and regulatory changes.

Business Monitor International (BMI)'s Singapore Freight Transport Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Singaporean freight transport and logistics industry.

Key Benefits

- Benchmark BMI's independent freight transport industry forecasts on Singapore to test other views - a key input for successful budgetary and planning in the strategic freight transport market.

- Target business opportunities and risks in the Singaporean freight transport sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Singapore.

- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs, and latest activity).

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering freight transport and logistics, regulatory changes, major investments and projects and significant national and multinational company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the freight sector and within the broader political, economic and business environment.

Industry Trends And Developments

Analysis of latest projects across the freight transport sector (road, rail, air, sea and logistics) including market overview which provides an outline of the key elements driving development.

BMI Industry Forecasts

Historic data series and forecasts to end-2018 for all key industry and macroeconomic indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Transport Sector: Sector Value (US$bn); sector real growth (%); employment (`000); total freight carried by road, rail, inland waterways, maritime, air and pipeline (mn tonnes-km/mn tonnes)

Trade: Exports and imports (US$mn) by category of goods (manufactured goods, food, chemicals etc.); top-5 import and export trade partners (US$mn); imports/exports to each global region (US$mn)

Port Data: Throughput (`000 tonnes) and container throughput (TEU) for all major ports in the state

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