DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/f21a18/greece_shipping_re) has announced the addition of the "Greece Shipping Report Q1 2011" report to their offering.
Greece Shipping Report provides industry professionals and strategists, corporate analysts, shipping associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Greece's shipping industry.
A further decline in port throughput is on the cards at Greece's ports in 2011 as macro factors affect the forecasts, with total trade predicted to decline by 1.6%.
The uptick in 2010 will therefore be cancelled out, meaning that recovery to historical highs has been pushed further into the future, past out mid-term forecast period.
BMI notes that past few years have been tough on Greece's ports, with throughput buffeted by industrial action and the downturn.
While the negative macro outlook for Greece affects projected port throughput, BMI is buoyed by developments at the ports that suggest the facilities could diversify their client base away from the muted domestic market into areas that could offer more profit and increase throughput by using ports as transhipment hubs or gateways.
Headline Industry Data
- 2011 port of Thessaloniki tonnage throughput forecast -0.10%, following projected growth of 2.75% in 2010.
- 2011 port of Piraeus container throughput forecast -0.90% following projected growth of 10.21% in 2010.
- 2011 total trade y-o-y change forecast at -1.61%.
Key Industry Trends
China Increases Exposure To Greek Maritime Sector - China continues to cement its role in Greece's maritime sector following the China's main terminal operator COSCO taking over operations at one of the container terminals at the port of Piraeus. The terminal operator is seeking to expand its role in the country's logistics network further, with a plan to own and operate the Thriassio transhipment hub.
Chinese banks have also opened their doors to Greek shipping firms seeking finance in order to expand, in another example of Sino-Greek relations on the shipping front increasing.
Thessaloniki Seeks Gateway Role - Thessaloniki is seeking its niche as its bigger container port sister, Piraeus, expands with the help of Greek investment. Thessaloniki is well placed to develop into a maritime gateway for the Balkans.
Risks To Outlook
Unemployment is rising, negatively affecting import demand, and together with a weak export sector this spells disaster for Greece's ports. While we forecast muted throughput growth over the mid term, we do note some developments which could have an upside impact on our current forecasts, namely COSCO Pacific's role at the port of Piraeus and the port of Port of Thessaloniki's plan to develop into a maritime gateway for the Balkans.
Key Topics Covered:
- Executive Summary
- SWOT Analysis
- Global Overview
- Industry Trends And Developments
- Market Overview
- Industry Forecast
- Company Profiles
For more information visit http://www.researchandmarkets.com/research/f21a18/greece_shipping_re