Now Available: Philippines Shipping Report Q1 2013

New Transportation market report from Business Monitor International: "Philippines Shipping Report Q1 2013"

by Bill Thompson

(WireNews+Co) - Boston, MA - 07 January 2013

While at the relative mercy of economic occurrences outside of its shores, the shipping industry of the Philippines is in a fairly healthy position in 2013 and over the forecast period to 2017. At home, the Philippines' economy is expected to have grown by 5.0% in 2012, but with pervasive external weaknesses set to undermine the country's previously robust trade outlook, we continue to expect headline growth to retreat over the course of H212, and see GDP growth cooling to 4.4% (up from our previous forecast of 4.0%) in 2013.

On the back of resilient exports, the Philippines racked up a solid current account surplus of US$3.7bn in H112. However, as a result of a challenging external demand outlook (especially in the electronics sector) as well as growing income outflows, we have downgraded our end 2012 current account forecast to US$7.3bn (3.0% of GDP) from US$8.9bn, and our end 2013 forecast to US$6.9bn (2.7% of GDP) from US$11.1bn previously. The country's shipping sector will very much be at the behest of these global headwinds then, especially in key export markets, such as the US, Japan, China and the eurozone.

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/514024_philippines_shipping_report_q1_2013.aspx) (http://www.fastmr.com/prod/514024_philippines_shipping_report_q1_2013.aspx)

That said, the country's main ports, led by the Manila International Container Terminal (MICT), will have a steady year in 2013. In terms of tonnage throughput, MICT will see year-on-year (y-o-y) growth come in at just under 5%, as will the Port of Cebu. In box terms, Cebu may not outdo MICT in twenty-foot equivalent units (TEUs) handled, but will enjoy more impressive y-o-y gains this year.

Headline Industry Data

- 2013 tonnage throughput at MICT forecast to grow 4.97% to 20.12mn tonnes.
- 2013 tonnage throughput at the Port of Cebu forecast to increase 4.90% to 28.13mn tonnes.
- 2013 tonnage throughput at the Port of Davao forecast to rise by 2.50% to 11.48mn tonnes.
- 2013 tonnage throughput at the Port of Cagayan de Oro forecast to increase 1.20% to 6.38mn tonnes.
- The real value of Philippines' total trade will rise by 5.50% this year, with exports totalling US$82.25bn, behind imports at US$93.00bn.

Key Industry Trends

Ports Put Under PPA Supervision

Some 13 ports in the Philippines have been put under the supervision of the Philippine Ports Authority (PPA) in several executive orders (EOs), which were published on October 11. According to Business World Online, the ports were placed under the PPA in order to develop the essential facilities so as to support the demands of the shipping trade. The ports that have been declared under the jurisdiction of the PPA are Dingalan, Himamaylan, Hinigaran, Clarin, Jagna, Getafe, Talibon, Tapal, Liloan, Balingoan, Balbagon, San Jose and Guimbal.

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