DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/c97786/singapore_shipping) has announced the addition of the "Singapore Shipping Report Q4 2011" report to their offering.
Business Monitor International's Singapore Shipping Report provides industry professionals and strategists, corporate analysts, shipping associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Singapore's shipping industry.
After a spectacular recovery in 2010, BMI notes that Singapore's economy is growing more slowly this year and is likely to do so again in 2012. Against a backdrop of a slower-growth world economy, BMI believe Singapore is being affected by weaker manufacturing output in electronics and pharmaceuticals, and slower services growth. On the other side, investment, the construction sector and inward tourism from Asia have all been holding up well. BMI now forecasts 2011 GDP growth of 5.9% (following the spectacular 14.5% expansion experienced in 2010). BMIs outlook for 2012 is for growth to ease off further to 4.4%.
Industry-specific factors also point towards a more muted performance. The main issue here is the problem of overcapacity and weak freight rates on transpacific and Asia-Europe routes. Current attempts by box shipping lines to boost rates, for example by charging a peak-season surcharge (PSS), need to be monitored, but BMI remains cautious about their chances of success.
Key Industry Trends
- Hapag-Lloyd Launches Singapore-Indonesia Service - German shipping company Hapag-Lloyd has launched a weekly Singapore-Indonesia service, amid signs that intra-Asian routes remain attractive. Freight rates on these routes are performing firmly, in contrast to the weakness on longer-haul routes such as transpacific or Asia-Europe.
- NOL Issues Bonds To Fund US$1.5bn New Build Plan - Neptune Orient Lines (NOL) said it was issuing US$243mn worth of bonds in June, as part of a plan to raise US$1.5bn for purchases of new container vessels. NOL subsidiary APL has ordered 12 8,400 20-foot equivalent unit (TEU) box ships, with more likely to come. NOL president Ron Widdows said lower ship prices had created an opportunity to 'retool our asset cost'.
- European Commission Begins Antitrust Investigation of Box Lines - The EC raided offices of a number of international container shipping lines, including Singapore's NOL. According to an official statement the 'Commission has reason to believe that the companies concerned may have violated the antitrust rules that prohibit cartels and restrictive business practices and/or the abuse of a dominant position.' BMI notes that any eventual finding of guilt could have a serious impact on the bottom line.
Key Topics Covered:
- Executive Summary
- SWOT Analysis
- Global Overview
- Industry Trends and Development
- Market Overview
- Company Profiles
For more information visit http://www.researchandmarkets.com/research/c97786/singapore_shipping