New Market Report: United Arab Emirates Shipping Report Q1 2013

Fast Market Research recommends "United Arab Emirates Shipping Report Q1 2013" from Business Monitor International, now available

by Bill Thompson

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

The UAE will continue to dominate the Gulf region's shipping as it continues to invest heavily in its facilities. Not only has the massive Khalifa Port had a hugely successful opening in 2012, but the established behemoth, Jebel Ali, has announced plans for a new container terminal, helping it to keep ahead from the growing competition in the region. Even the smaller Sharjah terminals are performing well, with record growth in the first half of 2012. As such we project continued strong growth at the facilities, despite the global economic headwinds which persist.

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Headline Industry Data

- 2013 Jebel Ali and Port Rashid total tonnage throughput growth forecast at 6.1%, and to average 4.6% to 2016.
- Sharjah container throughput (KCT and SCT) is forecast to grow by 6.1% in 2013, averaging 4.6% over the medium term.
- Jebel Ali container throughput is forecast to grow by 8.9% in 2013. Through to 2017, we expect growth to average 7.0%.
- Total trade real growth is forecast at 7.6% in 2013 and to average 5.7% through to 2016.

Key Industry Trends

New Terminal For Jebel Ali

BMI has revised up its medium-term box throughput forecast for the Dubai port of Jebel Ali on the back of the recent signing of a contract for the construction of its third terminal, scheduled to open in 2014. We note that the third terminal will help ensure that the DP World-operated facility continues to grow its transhipment trade in the Gulf in the face of rising regional competition.

Khalifa Port Launches Commercial Operations

The launch of commercial operations at Abu Dhabi's new Khalifa Port exactly on time according to the schedule laid out in its original 100 steps construction plan demonstrates the superior planning that has gone into its development. Given the investment and expertise that has gone into establishing the new facility, and the development of the Khalifa Industrial Zone Abu Dhabi (KIZAD) alongside it, BMI is forecasting extremely strong throughput growth over our forecast period to 2016.

Healthy H112 For Sharjah Terminals

BMI has revised up our 2012 box throughput forecast for the Sharjah facilities of the Sharjah Container Terminal (SCT) and the Khorfakkan Container Terminal (KCT) in light of January to July volume data. Although we believe that economic activity in the UAE will have slowed through the second half of the year, the considerable growth in H1 volumes should see a healthy throughput increase by year-end.

Key Risks

Key risks to our outlook for the UAE's shipping sector come from the continued sovereign debt crisis in the eurozone, a major trade partner, and the continued political unrest in the Middle East, though we do not believe that significant disturbance will take place in the UAE.

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