1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution

Israel Shipping Report Q2 2011: New research report available at Fast Market Research

Fast Market Research recommends "Israel Shipping Report Q2 2011" from Business Monitor International, now available

 
PRLog - Mar. 27, 2011 - The outlook for economic growth in Israel during 2011 is somewhat subdued, with both domestic consumption and exports expected to do less well than in 2010. On the consumption side we see demand for durable goods looking particularly weak, consistent with low levels of consumer confidence. Overall investment is also coming down, although we note that a government plan to boost the housing sector could lead to greater investment in residential property. Exports are being hampered by the appreciation of the shekel against the US dollar. On the political front, the Labour Party split in January with a more centrist faction (which has renamed itself as the Atzmaut or Independence Party) staying in the ruling coalition, while the rest of the party returned to opposition.

As a result, the coalition is expected to become somewhat more hawkish in its foreign policy (which could increase political risk) and possibly more consistently market-focused in terms of economic policy. Based on our analysis, BMI forecasts 2011 GDP growth of 3.0% in Israel, representing a deceleration on the 3.4% growth rate achieved in 2010. We expect growth to stay at this 3.0% level again in 2012, before cooling a little more in subsequent years. As a result, in the five years to 2015, we expect growth to average a rather disappointing 2.8% per annum.

Headline Industry Data

* Gross tonnage handled at Haifa, Israel's largest port, will expand by 4.1% in 2011 to reach 21.744mn tonnes, BMI forecasts. At Ashdod, the second largest port, tonnage will grow 2.5% to 19.065mn tonnes.
 * Box handling at Haifa will grow by 4.9% to 1.325mn TEUs. Ashdod, which is also the country's second largest box container operation, will see growth of 4.0% to 1.169mn TEUs.
 * The real value of Israeli foreign trade will grow at a much slower rate in 2011 than in 2010, because of the slower world economy. We project growth of +3.8%, down on the +8.8% registered last year.


Key Industry Trends

Haifa Port, one of the country's two main Mediterranean facilities, enjoyed a strong year in 2010 with record box numbers. According to official data, containers handled grew by 12% to a record 1.26mn TEUs. We expect further expansion this year as the Carmel Terminal comes fully into operation with the addition of new equipment

Zim Integrated Shipping is emerging from its financial and operating difficulties, associated with the 2009 downturn in world trade. Israel's largest shipping company was back in the black in Q310 with positive net income of US$37mn, compared to a US$208mn loss in the year-earlier period. The company said it was preparing to sell its stake in the Tin Can Island container terminal in Nigeria for US$154mn, to improve its liquidity position and invest in operations in Asia, North America and Europe.

A strike by port workers in early January 2011 paralysed Israel's three main ports at Ashdod, Haifa, and Eilat. Port workers have a lot of bargaining power, since over 90% of Israel's foreign trade is conducted by sea. Not surprisingly perhaps, the authorities reached a new wage deal with Histradut (the General Federation of Labour) after three days, offering a 6% pay increase over two years to most dock workers.

Key Risks to Outlook

In our view, a new downside political risk is emerging for the Israeli economy and the shipping and ports sector. This is the political upheaval sweeping across the Arab world, threatening long established authoritarian regimes. The challenge to the status quo in neighbouring Egypt, which has a long-standing peace agreement with Israel, is particularly unsettling for the country's authorities. Increased uncertainty over the regional balance of power could cause investment and trade deals to be put on hold, resulting in lower shipping and port activity than our projections here suggest.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/128748_israel_shipping_report_...


Report Table of Contents:

SWOT Analysis
- Israel Shipping SWOT
Global Overview
- Container Industry Overview
- Table: Floating Back To The Yards - New Orders
- Dry Bulk Shipping Overview
- Table: Expansion Ahoy - Tata NYK Shipping Fleet Overview
- Table: Chief Importers Primary Destinations for Gladstone's Coal Exports
- Liquid Bulk Shipping Overview
Industry Trends and Developments
Market Overview
- Israel Container Shipping Overview
Industry Forecast
- Table: Major Port Data, 2008-2015
- Table: Trade Overview, 2008-2015
- Table: Key Trade Indicators,2008-2015
- Table: Main Import Partners, 2002-2008
- Table: Main Export Partners, 2002-2008
Company Profiles
- A.P. MOLLER-MAERSK
- Mediterranean Shipping Company (MSC)
- CMA CGM
- Evergreen Line
- Hapag-Lloyd
- Neptune Orient Lines (& APL)
- CSAV Shipping
- China Ocean Shipping (Group) Company
- Hanjin Shipping
- China Shipping (CSCL)
- Mitsui OSK Lines (MOL)
- Nippon Yusen Kabushiki Kaisha (NYK)

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

# # #

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

--- End ---

Click to Share

Contact Email:
***@fastmr.com Email Verified
Source:Fast Market Research
Phone:1.800.844.8156
Zip:01267
State/Province:Massachusetts - United States
Industry:Transportation, Automotive, Shipping
Tags:shipping, port, container, haifa, box, investment, workers, ashdod, teus, tonnage
Shortcut:prlog.org/11400853
Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share