DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/09a8f2/philippines_freigh) has announced the addition of the "Philippines Freight Transport Report Q4 2011" report to their offering.
BMI are forecasting a steady year for the Philippines freight transport industry in 2011, with the air freight sector leading the way in terms of year-on-year (y-o-y) growth. Heading into Q411, BMI predicts steady growth for the Philippines' ports and shipping industry with container and tonnage throughput levels expected to grow modestly in 2011 at the country's main ports.
In Asia, demand growth was held at about half the global average in June 2011, according to the Manila Bulletin Publishing Corporation, due to tightening economic policies and the effects of the earthquake and tsunami that occurred in Japan in March. Allied to this, BMI's latest projections for the global shipping market centre on the threat of overcapacity, especially on the Asia-Europe route. It is BMI's view that this trade route will be the most affected by overcapacity due to the fact that a large percentage of the box order book is accounted for by mega-vessels, which are only able to operate on the Asia-Europe trade route.
Headline Industry Data
- 2011 air freight tonnage forecast to grow 5.45%, following a contraction of 5.49% in 2010.
- The real value of the Philippines's total trade is forecast to rise by 3.95% in 2011.
- In terms of tonnage, the Port of Cebu will experience growth of 8.67%, to 26.512mn tonnes, while Manila International Container Terminal (MICT) will see lower growth (2.48%), to 18.699mn tonnes.
Key Industry Trends
- ICTSI Enters Into 25-Year Deal With SBMA
- International Container Terminal Services (ICTSI) entered into a 25-year agreement with Subic Bay Metropolitan Authority (SBMA) in August 2011. The agreement involves developing and operating the New Container Terminal 2 (NCT-2) at Cubi Point in Subic Bay.
- ICSI Sees Opportunities In Middle East Turmoil
Companies Mentioned:
- International Container Terminal Services, Inc (ICTSI)
- MCC Transport
For more information visit http://www.researchandmarkets.com/research/09a8f2/philippines_freigh