- Language: English
- 144 Pages
- Published: February 2012
- Region: India
Latvia Shipping Report Q1 2011
- Published: January 2011
- Region: Latvia
- 101 Pages
- Business Monitor International
Latvia Shipping Report provides industry professionals and strategists, corporate analysts, shipping associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Latvia's shipping industry.
Throughput at Latvia's largest port, Riga, is on course to post another year of growth in tonnage in 2010 after gaining the distinction of being one of the few ports in Europe to beat the global downturn in 2009 with tonnage at the facility increasing slightly, by 0.54% year-on-year (y-o-y). The port's container through put is predicted to completely recover from the declines in 2008 and 2009.
The latest year-to-date figures (January-November 2010) show tonnage volumes at the port of Riga for the first 11 months of 2010 increasing by 2.1% on the same period in 2009 and box levels up by 42.3% yo-y in January-October 2010. This suggests that the port is on course to record full y-o-y increases in through put and reach BMI's throughput targets for 2010.
This offers a sound base for BMI's forecasts in port throughput at Riga for 2011 and for the rest of the mid term. We predict that port's tonnage will reach 31.8mn tonnes in 2015, increasing by 4.75% on the projected 2011 handling figure. Container volumes for the same period will increase by 7.44% to reach273,841 20-foot equivalent units (TEUs) in 2015.
Headline Industry Data
- 2011 port of Riga tonnage throughput forecast +0.76% following a projected growth of 1.31% in2010.
- 2011 port of Riga container throughput forecast +1.52% following a projected growth of 37.2%in 2010.
- 2011 total trade growth forecast +1.77%.Key Industry Trends
Riga's Year-To-Date Throughput Up Since October - The Freeport of Riga reported throughput growth in November 2010. The port handled 2.78mn tonnes of cargo, up 2.5% on October. This result backs a growing trend: from the beginning of 2010 to September the year-to-date figures were lower than those in the corresponding periods of the previous year. After that, the January to October tonnage showed a y-o-increase of 0.3%, and in the first 11 months the port handled 27.82mn tonnes, up 2.1% on the January-November 2009 handling figure of 27.24mn tonnes. Container volumes at the port amounted to209,688TEU in January-October (+42.3%, y-o-y).
Expectations of US Transit Increase - The government of Latvia expects an increase in US transit volumes via Latvian ports. As of September 2010 Latvian ports have handled near 15,000 US freight containers in transit.
Ports' Q1-Q3 2010 Throughput Hit by Bulk Downturn - Volumes at Latvian ports were bucking the global trend of a recovery after the downturn, with total throughput at the nation's ports declining by 3.4%in January-September 2010. The ports are heavily exposed to the bulk sector, which has slowed since the2009 demand boom. However, the ports' container volumes were improving, in keeping with the recovery that has been seen worldwide in box traffic.
Risks to Outlook Potential downside risks to BMI's throughput forecasts derive from possible slow household sector recovery and additional spending cuts at the government level that might further weigh on aggregate demand.
Potential upside risks come in the form of reduction in political uncertainty following the re-election of most of the main players in the previous coalition government boosting investor confidence. Further upside risks are due to increased transit of US freight containers through Latvian ports. SHOW LESS READ MORE >
Latvia Shipping SWOT
Container Shipping Overview
Dry Bulk Shipping Overview
Liquid Bulk Overview
Industry Trends And Developments
Free Port of Ventspils
Terminals, Storage and Equipment
Expansions And Developments
Port of Riga
Terminals, Storage And Equipment
Expansions And Developments
Table: Major Port Data
Table: Trade Overview
Table: Key Trade Indicators
Table: Main Import Partners
Table: Main Export Partners
Mediterranean Shipping Company (MSC)
Neptune Orient Lines (& APL)
China Ocean Shipping (Group) Company (COSCO)
China Shipping (CSCL)
Mitsui OSK Lines (MOL)
Nippon Yusen Kabushiki Kaisha (NYK)
- A.P. MØLLER-MAERSK
- Mediterranean Shipping Company (MSC)
- CMA CGM
- Neptune Orient Lines (& APL)
- Evergreen Line
- China Ocean Shipping (Group) Company (COSCO)
- CSAV Shipping
- China Shipping (CSCL)
- Hanjin Shipping
- Mitsui OSK Lines (MOL)
- Nippon Yusen Kabushiki Kaisha (NYK)