Pakistan Shipping Report Q4 2011
Business Monitor International, September 2011, Pages: 97
Business Monitor International's Pakistan Shipping Report provides industry professionals and strategists, corporate analysts, shipping associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Pakistan's shipping industry.
BMI continue to be concerned by the state of the shipping industry. Container shipping companies are struggling to push through rate increases and liquid and dry bulk operators are contending with some of the lowest daily returns in years. The cause is overcapacity, which looks unlikely to ameliorate any time soon. Further, there are fresh challenges on the way, including the mega ships being built by Vale and Maersk Line.
In Pakistan there are opportunities for the maritime industry. National carrier Pakistan National Shipping Corporation (PNSC) is growing and expansion and improvements are being carried out on the country's ports.
Headline Industry Data
- Tonnage throughput at Karachi forecast by BMI to grow by 0.8% in FY12 (July 2011-June 2012), following an estimated 6.3% in FY11.
- FY12 contianer throughput growth at Karachi forecast to slow to 1.4% following an estimated growth rate of 8.1% in FY11.
- Pakistan's total trade forecast to see real growth of 1.6% in FY12, and to average 4.3% to 2015.
Key Industry Trends
Karachi Dredging Offers Upside Risk To Throughput Forecasts: In June the premier port in Pakistan, the port of Karachi, announced it had succeeded in deepening the draught of its harbour in order to accommodate larger vessels. BMI notes that this development provides upside risk to our throughput forecasts for the facility.
UASC Establishes New Company In Pakistan As Part Of Global Expansion Strategy: The United Arab Shipping Company (UASC) is a truly international company. It was formed under the aegis of six Middle Eastern countries - Kuwait, Iraq, Bahrain, UAE, Saudi Arabia and Qatar - and is headquartered in Kuwait with a corporate office in the UAE. Now the company is expanding its global reach further with the launch of a new joint venture (JV) in Pakistan. With Pakistani trade set to grow by about 9% this year and in 2012, BMI believes this new undertaking will boost UASC's volumes, and could spur the liner to introduce new service calls at the country's ports.
China Adds Pakistan's Gwadar To 'String Of Pearls': Pakistan's Defence Minister Ahmad Mukhtar said in May that China is to take over operation of the strategically-positioned port of Gwadar. The announcement has yet to be confirmed by Beijing, but if true it will see yet another addition to China's 'String of Pearls', a group of Indian Ocean ports that China has been developing, ostensibly for commercial use, but which could also have military purposes. BMI believes that a Chinese naval presence in Gwadar would greatly enhance Beijing's ability to project power into the Persian Gulf for the first time in the modern era, and would allow it to guard the western part of its crucial energy supply chain.
Key Risks To Outlook
Dredging recently undertaken at the Pakistani facility of Karachi offers upside risk to our mid term throughput forecasts for the port.
Executive Summary
Headline Industry Data
Key Industry Trends
Key Risks To Outlook
SWOT Analysis
Pakistan Shipping SWOT
Pakistan Political SWOT
Pakistan Economic SWOT
Pakistan Business Environment SWOT
Global Overview
Container Shipping: Overcapacity Threat To Haunt In The Mid Term, Asia-Europe Most Exposed
Drivers
Bellwethers
Rates
Capacity
Table: Newbuilds Due Online In The Mid Term
Dry-Bulk: No Recovery On The Horizon For Dry Bulk As Overcapacity Cloud Hangs Low
Drivers
Capacity
Rates
Liquid Bulk Shipping: At the Start of a Brutal Down Cycle
Drivers
Capacity
Rates
Industry Trends and Development
Market Overview
Port Of Karachi
Terminals, Storage And Equipment
Port Qasim
Terminals, Storage And Equipment
Industry Forecast
Table: Major Port Data, 2008-2015
Table: Trade Overview, 2008-2015
Table: Key Trade Indicators, 2008-2015
Table: Main Import Partners, 2002-2009
Table: Main Export Partners, 2002-2009
Company Profile
Pakistan National Shipping Corporation (PNSC)
Maersk Line
Mediterranean Shipping Company (MSC)
CMA CGM
COSCO Container Lines Company Limited (COSCON)
Hapag-Lloyd
Evergreen Line
APL
CSAV
Hanjin Shipping (Container Operations)
China Shipping Container Line (CSCL)
- Pakistan National Shipping Corporation (PNSC)
- Maersk Line
- Mediterranean Shipping Company (MSC)
- CMA CGM
- COSCO Container Lines Company Limited (COSCON)
- Hapag-Lloyd
- Evergreen Line
- APL
- CSAV
- Hanjin Shipping (Container Operations)
- China Shipping Container Line (CSCL)
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