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Saudi Arabia Shipping Report Q4 2010
Business Monitor International, Sep 2010, Pages: 94
Liquid bulk continues to dominate Saudi Arabia's shipping sector, but diversification has seen container vessels enter the mix as the country's consumer demand has increased. Dry bulk shipping looks set to develop a role in the country's shipping sector, driven by the country's move from grain producer to grain importer.
The National Shipping Company of Saudi Arabia (NSCSA) has developed to cater for the kingdom's trade needs, first offering tankers for oil transport, followed by ro-ro and container vessels as the country's consumer power grew. Now the line looks set to expand into the dry bulk sector.
- Decrease of grain production opens up shipping opportunities for grain export.
- NSCSA continues to cater for the kingdom's trade needs and is expected to develop a dry bulk arm.
- Grain terminals exist but expansion and the development of new facilities is likely.
- Iron ore deposits also offer long-term dry bulk shipping opportunities.
While the authors are bullish about the dry bulk sector in Saudi Arabia, which has a number of opportunities, the country is exposed to global shocks. The country had to seek other grain-import avenues when one of its grain partners, Russia, imposed a grain-export ban. The country's exposure to the volatility of the dry bulk charter market will be somewhat diluted by NSCSA's plans to operate a dry bulk shipping arm.
- 'China effect' in reverse, causing demand for shipping to fall.
- Supply-demand imbalance to widen, with excess supply.
- Thermal coal demand offers some support, but no panacea.
- Vertical integration of mining firms a discomfort to dry bulkers.
Saudi Arabia Shipping Report provides industry professionals and strategists, corporate analysts, shipping associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Saudi Arabia's shipping industry.
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