Boston, MA -- (ReleaseWire) -- 02/10/2014 -- Growth To Drop Down A Notch In 2014
BMI is becoming more cautious about Turkish economic growth. We have reduced our GDP growth forecast for 2014 to 2.6% (down from 3.1% previously) as global credit markets tighten, forcing the country, which has been relying on financial account inflows to cover massive external imbalances, to hike up interest rates so as to continue attracting the necessary foreign capital. Slowing private consumption and investment growth will be only partially offset by government spending and a rising contribution from net exports. We have, however, increased our estimate for 2013 GDP growth to 3.3% (up from 2.8% previously) on the strength of a better-than expected performance in Q313.
View Full Report Details and Table of Contents
Throughput at Turkey's largest container port, the port of Ambarli, is set to increase in terms of both tonnage and box volumes in 2014, in line with the country's slower but still positive macroeconomic outlook. Bulk tonnage growth will ease back a little on 2013 levels, but container traffic will accelerate marginally on the previous year, reflecting investment and capacity expansion.
Over the medium term, we project further growth at Ambarli and a number of country's other ports. As BMI previously highlighted, the privatisation of Turkey's port sector has been followed by a flood of investment, with a number of projects underway to boost capacity at the nation's ports and the likes of DP World and APM Terminals entering the country's container market.
Headline Industry Data
- 2014 port of Ambarli general and liquid bulk cargo tonnage throughput forecast to grow 9.7%; over the medium term to 2018 we project average annual growth of 7.6%.
- 2014 port of Ambarli container throughput forecast to grow 8.7%; over the medium term we project annual average growth of 7.3%.
- 2014 total trade growth forecast at 5.6%, up from an estimated 4.3% in 2013.
Key Industry Trends
Yilport Adds Four New Gantry Cranes In Gemport: Turkish port operator Yilport will add four new gantry cranes to its Gemport facility in Gemlik, Turkey, located on the southeast coast of the Marmara Sea. The gantry cranes were manufactured in Japan by Mitsui Engineering and Shipbuilding Co. and will cater for Super Post Panamax vessels. Installation of the new gantry cranes is expected to be completed by April 2014. The purchase highlights two of BMI's shipping trends: that the privatisation of Turkey's port sector has led to an influx in investment; and that ports currently under construction are being developed to cater for the global trend of mega vessels.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. 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.
Browse all Transportation research reports at Fast Market Research
You may also be interested in these related reports:
- Hong Kong Shipping Report Q1 2014
- Greece Shipping Report Q1 2014
- Indonesia Shipping Report Q1 2014
- Croatia Shipping Report Q1 2014
- Estonia Shipping Report Q1 2014
- Romania Shipping Report Q1 2014
- Vietnam Shipping Report Q1 2014
- Taiwan Shipping Report Q1 2014
- Saudi Arabia Shipping Report Q1 2014
- China Shipping Report Q1 2014