Market Report, "Peru Shipping Report Q3 2010", published

July 14, 2010 - PRLog -- In Q210 Peru's maritime sector bore the brunt of further tension between the Peruvian national port authority, the Empresa Nacional de Puertas SA (ENAPU), and workers at the country's largest port, Callao. In May 2010 a 10-day strike by dock workers who wanted an increase in wages brought the facility to a complete standstill, with shipments forced to be diverted to neighbouring facilities. The protest was brought to a halt on May 22, but not until the government had been forced to declare a state of emergency. The strike was the second major incident of industrial action at Callao in three years, following a 10-day strike in 2007, and is reported to have cost the port authority and private operators about US$776mn in lost revenues.

The real cost to Peru's trade sector and its economy are also believed to be have been considerable. The president of Peru's Exporter Association (Adex), Luis Vega, said 'This labour stoppage not only affects Peruvian exports but also the national industry who needs raw materials and capital goods. It affects the whole country.'

The threat of ongoing disruption to Peru's maritime sector is a concern, as the shipping industry battles to recovery from a severe contraction in trade volumes resulting from 2009's global economic downturn. One bright sport for the industry, however, has been the completion of a major expansion project at Callao, which, in June, saw the opening of the port's first designated container terminal, operated by DP World. The facility is expected to expand the capacity of the port, allowing it to capitalise on projected long-term growth in Peru's international trade volumes.

In 2010 BMI expects Peru's trade sector to recover after registering an 11.5% contraction in volumes last year. Total trade is expected to grow by 14.2% year-on-year, comfortably offsetting last year's fall, while imports and exports are forecast to increase by 18% and 10% respectively.

In nominal terms imports will expand by 25.1% to US$32.4bn. The strongest growth in value terms will be registered by ores and metals followed by iron and steel and then manufactured goods. Exports, meanwhile, are expected to grow by 16.6% to US$35.47bn; the biggest export growth categories, measured in value will be fuels, agricultural goods and ores and metals, in that order.

This growth is expected to filter through into Peru's port sector, with the country's largest maritime facility, Callao registering a growth in total tonnage of 8.4% y-o-y to 18.9mn tonnes, narrowly failing to match 2009's 8.7% contraction. At the port of Paita BMI forecasts tonnage growth 12.7% to 955,000 tonnes in 2010, which will not be enough to offset last year's 33% contraction

Both ports are also expected to experience a robust recovery in their container handling volumes with Callao and Paita forecast to register a respective box throughput growth of 8.4% and 15.3% y-o-y. By the end of 2010 Callao is projected to have handled 1.18mn twenty-foot equivalent units (TEUs) with Paita handling 98,223.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/71693_peru_shipping_report_q3_...

Report Table of Contents:

Executive Summary
SWOT Analysis
- Peru Shipping SWOT
Global Overview
- Container Shipping Overview
- Dry Bulk Overview
- Liquid Bulk Sector Overview
Industry Trends And Developments
Market Overview
- Port of Callao
- Overview
- Terminals, Storage And Equipment
- Expansions And Developments
- Multi-Modal Links
- Port of Paita
- Overview
- Terminals, Storage And Equipment
- Expansions And Developments
- Multi-Modal Links
Industry Forecast
- Table: Major Port Data
- Table: Trade Overview, 2007-2014
- Table: Key Trade Indicator, 2007-2014
- Table: Peru's Main Import Partner, 2002-2008 (US$mn)
- Table: Peru's Main Export Partners, 2002-2008 (US$mn)
Company Profiles
- A.P. MOLLER-MAERSK
- Mediterranean Shipping Company
- CMA CGM
- Evergreen Line
- China Ocean Shipping (Group) Company (COSCO)
- Hapag-Lloyd
- Neptune Orient Lines (& APL)
- China Shipping (CSCL)
- Nippon Yusen Kabushiki Kaisha (NYK)
- Hanjin Shipping
- Mitsui OSK Lines (MOL)

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