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Colombia Shipping Report Q1 2011
Business Monitor International, Nov 2010, Pages: 94
The Colombia Shipping Report provides industry professionals and strategists, corporate analysts, shipping associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Colombia's shipping industry.
Despite recent changes to Colombia's political set-up, the port sector continues to develop at a steady pace in line with the country's growing international trade network. Supporting growth in exports to Europe, the United States and, increasingly, Asian markets, has been an increase in the number of major international shipping lines offering containerised services to and from Colombian ports, with European container line CMA CGM recently adding the Port of Cartagena (POC) to the company's Black Pearl service to and from the US and Canada.
The continued development of Colombia's maritime sector will depend, among other things, on the support and investment provided by the administration of incoming president Juan Manuel Santos. So far Santos has appeared a willing benefactor of further growth with plans to develop the country's underutilised but potentially valuable river ports sector. Meanwhile, the government appears keen to continue with the outward-facing stance adopted by previous administrations in welcoming foreign investment in the port sector. With Latin America increasingly on the radar of major international port operators, Colombia remains a key market for investment. Three years after winning a tender to develop a third container terminal at the Port of Buenaventura (POB), Philippines-based firm International Container Terminal Services International (ICTSI) has promised to commit a further US$600mn over the next two years to develop its assets in Argentina, Mexico and Colombia.
The positive mood surging through Colombia's maritime sector is expected to filter through into throughput volumes at the country's leading ports. POB and POC are forecast to record healthy growth in both total tonnage and container handling volumes, though neither facility is expected to be able to match the double-digit growth witnessed in 2010 when base effects proved a significant contributing factor. In general tonnage terms, POC will lead the way in 2011 with growth of 6.9% year-on-year (y-o-y) to 9.98mn tonnes. At POB the increase in total tonnage throughput is expected to be a more modest 4%, taking volumes to 12.8mn tonnes. In terms of container throughput the opposite dynamic is expected: POB is forecast to be out in front with a box handling growth of 9.9% to 793,960 20-foot equivalent units (TEUs) while Container movements at Cartagena will grow 7.3% to 1.05mn TEUs.
Colombia's trade growth in 2011 is expected to be strong, but again below the level seen in 2010. The country's total trade is forecast to expand by 7.4% in real terms, slightly lower than the estimated 9.3% increase witnessed last year. This year exports will grow slightly more strongly than imports in real terms (11% vs 5%).
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