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Romania Shipping Report Q3 2011
Business Monitor International, June 2011, Pages: 79
Business Monitor International's Romania Shipping Report provides industry professionals and strategists, corporate analysts, shipping associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Romania's shipping industry.
The port of Constantza is set to continue seeing growth in total tonnage throughput and a return to increase in box volumes in 2011 after demonstrating positive signs of recovery in 2010. Over the mid-term this report projects further growth at the port of Constantza.
Headline Industry Data:
- 2011 port of Constantza tonnage throughput forecast to grow 13%; over the mid-term BMI projects a 50% increase.
- 2011 port of Constantza container throughput forecast to grow 4%; over the mid-term this report projects a 28% increase.
- 2011 total trade growth forecast at 6.85%.
Key Industry Trends:
More Port Cooperation As Competition Increases
The heads of the country's largest port, the port of Constantza, and of Rotterdam Port signed a Protocol of Cooperation in April 2011. According to the ministers of transport of both Romania and the protocol is important for enhancing the economic relations between the two countries in the port sector. Earlier in the year, Constantza signed a similar bilateral protocol on maritime cooperation with the Ro-Ro Pendik Port of Turkey with the Romanian government hoping to make Turkish ports a key starting point for transporting Romanian exports towards the Mediterranean Sea. Romania also has similar cooperation protocols with Slovenia, Spain and Kazakhstan. As BMI noted earlier, Constantza faces competition for its role as the Black Sea's hub port.
Risks To Outlook:
The strong base for growth projections at the country's ports stems from BMI's positive outlook for the Romanian economy. Port throughput will be driven by the country's exports, which, together with the domestic industrial activity, is central to Romania's economic recovery. The country's real GDP is estimated to increase by 2.1% in 2011.
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