Boston, MA -- (ReleaseWire) -- 05/22/2014 -- The port of Odessa is set to hold the top position in Ukraine's maritime sector in terms of container throughput and of the top positions in terms of total tonnage 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 the 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, we project 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.
In 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 decrease by 4%, over the medium term, we project a 5% increase.
- 2014 port of Odessa container throughput forecast to grow 11%, over the medium term, we project a 56% increase.
- 2014 total trade growth forecast at 7.81%.
Key Industry Trends
Odessa Set for Box Boost As New Terminal Is Launched: BMI is forecasting a stronger container throughput outlook for Ukraine's port of Odessa in 2014, with the port's new container terminal due online in Q214. The new facility will boost Odessa's box throughput capacity and enable it to handle larger ships. BMI estimates that the expansion project will enable the Ukrainian port to come close to reclaiming its predownturn container throughput
Iron Ore Transport Deal To Boost Rail And Port: Black Iron, a Canadian iron ore exploration and development company, has signed a memorandum of understanding with Ukrainian Railways' Pridneprovskaya Railway to transport more iron ore on Ukraine's rail freight network. The development highlights upside risk to BMI's Ukraine iron ore production forecasts, with the country's rail freight and the port of Yuzhny set to be the primary beneficiaries from the country's expanding iron ore exports.
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