Boston, MA -- (ReleaseWire) -- 02/10/2014 -- The port of Odessa is set to hold the top position in Ukraine's maritime sector in terms of both total tonnage and container throughput in 2014, after overtaking the port of Illichivsk in terms of boxes handled in 2010.
Odessa is in a strong position to build on in 2014. The operator of the container facility at the port, HPC Ukraina, the Ukrainian unit of Germany's Hamburger Hafen Und Logistik AG (HHLA), is seeking to increase the port's role in the global container shipping sector by developing it into a direct port of call, thereby decreasing Ukraine's reliance on Romania's port of Constantza for its box transhipment. The first phase of a new deep-water container terminal is expected to commence operations in 2014.
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Over the medium term, BMI projects further growth at the port of Odessa - both in terms of total and box throughput. Illichivsk's container volumes are set to begin stabilising as a result of UTC resuming its operations at the port.
Over the long term, the country's ports might benefit from Ukraine's newly adopted seaports development strategy, which is aimed at the country's seaports increasing their total cargo handling to 210mn tonnes per year and their combined annual throughput capacity boosted to 250mn tonnes by 2038.
Headline Industry Data
- 2014 port of Odessa tonnage throughput forecast to grow 4%, over the medium term we project a 15% increase.
- 2014 port of Odessa container throughput forecast to grow 16%, over the medium term we project a 64% increase.
- 2014 total trade growth forecast at 7.81%.
Key Industry Trends
More Investments For Ukraine's Ports: Ukraine has attracted more investments into its port infrastructure over the last quarter, with funds from China and one of the major global commodities merchandisers making their way into the country. At the beginning of December 2013, the Chinese businessman Wang Jing said that he will spearhead a US$3bn joint venture to build a deep-water port and refurbish the Ukrainian port of Sevastopol. In October 2013, one of the major global commodities merchandisers, the Rotterdam-headquartered Louis Dreyfus Commodities announced an agreement with Odessa-based operator Brooklyn Kiev to establish a joint venture for the development and management of a multicommodity terminal in Odessa.
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