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Latvia Shipping Report Q1 2011


Latvia Shipping Report Q1 2011

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Additional Information
Price $530.00
Meta Description No
Publisher Business Monitor International
Date of Report Aug 1, 2011
Quick Overview
Throughput at Latvia's largest port, Riga, is on course to post another year of growth in tonnage in 2010after gaining the distinction of being one of the few ports in Europe to beat the global downturn in 2009with tonnage at the facility increasing slightly, by 0.54% year-on-year (y-o-y). The port's containerthroughput is predicted to completely recover from the declines in 2008 and 2009.
The latest year-to-date figures (January-November 2010) show tonnage volumes at the port of Riga forthe first 11 months of 2010 increasing by 2.1% on the same period in 2009 and box levels up by 42.3% yo-y in January-October 2010. This suggests that the port is on course to record full y-o-y increases inthroughput and reach BMI's throughput targets for 2010.
This offers a sound base for BMI's forecasts in port throughput at Riga for 2011 and for the rest of themid term. We predict that port's tonnage will reach 31.8mn tonnes in 2015, increasing by 4.75% on theprojected 2011 handling figure. Container volumes for the same period will increase by 7.44% to reach273,841 20-foot equivalent units (TEUs) in 2015.
Headline Industry Data
?? 2011 port of Riga tonnage throughput forecast +0.76% following a projected growth of 1.31% in2010.
?? 2011 port of Riga container throughput forecast +1.52% following a projected growth of 37.2%in 2010.
?? 2011 total trade growth forecast +1.77%.Key Industry Trends
Riga's Year-To-Date Throughput Up Since October - The Freeport of Riga reported throughput growth in November 2010. The port handled 2.78mn tonnes of cargo, up 2.5% on October. This result backs agrowing trend: from the beginning of 2010 to September the year-to-date figures were lower than those inthe corresponding periods of the previous year. After that, the January to October tonnage showed a y-o-yincrease of 0.3%, and in the first 11 months the port handled 27.82mn tonnes, up 2.1% on the January-November 2009 handling figure of 27.24mn tonnes. Container volumes at the port amounted to209,688TEU in January-October (+42.3%, y-o-y).
Expectations of US Transit Increase - The government of Latvia expects an increase in US transit volumes via Latvian ports. As of September 2010 Latvian ports have handled near 15,000 US freightcontainers in transit.
Ports' Q1-Q3 2010 Throughput Hit by Bulk Downturn - Volumes at Latvian ports were bucking the global trend of a recovery after the downturn, with total throughput at the nation's ports declining by 3.4%in January-September 2010. The ports are heavily exposed to the bulk sector, which has slowed since the2009 demand boom. However, the ports' container volumes were improving, in keeping with the recoverythat has been seen worldwide in box traffic.
Risks to OutlookPotential downside risks to BMI's throughput forecasts derive from possible slow household sectorrecovery and additional spending cuts at the government level that might further weigh on aggregatedemand.
Potential upside risks come in the form of reduction in political uncertainty following the re-election ofmost of the main players in the previous coalition government boosting investor confidence. Furtherupside risks are due to increased transit of US freight containers through Latvian ports.
Table of Contents
Executive Summary ........................................................................................................................................ 5
SWOT Analysis ................................................................................................................................................ 7
Latvia Shipping SWOT .......................................................................................................................................................................................... 7
Global Overview .............................................................................................................................................. 8
Container Shipping Overview .................................................................................................................................................................................... 8
Dry Bulk Shipping Overview .................................................................................................................................................................................... 18
Liquid Bulk Overview .............................................................................................................................................................................................. 24
Industry Trends And Developments ............................................................................................................ 28
Market Overview ............................................................................................................................................ 30
Free Port of Ventspils .............................................................................................................................................................................................. 30
Overview ............................................................................................................................................................................................................. 30
Terminals, Storage and Equipment ..................................................................................................................................................................... 31
Expansions And Developments ........................................................................................................................................................................... 33
Multi-Modal Links .............................................................................................................................................................................................. 34
Port of Riga ............................................................................................................................................................................................................. 35
Overview ............................................................................................................................................................................................................. 35
Terminals, Storage And Equipment .................................................................................................................................................................... 35
Expansions And Developments ........................................................................................................................................................................... 37
Multi-Modal Links .............................................................................................................................................................................................. 39
Industry Forecast .......................................................................................................................................... 40
Table: Major Port Data ...................................................................................................................................................................................... 41
Table: Trade Overview ....................................................................................................................................................................................... 42
Table: Key Trade Indicators ............................................................................................................................................................................... 43
Table: Main Import Partners .............................................................................................................................................................................. 44
Table: Main Export Partners .............................................................................................................................................................................. 45
Company Profiles .......................................................................................................................................... 46
A.P. M├śLLER-MAERSK .................................................................................................................................................................................... 46
Mediterranean Shipping Company (MSC) .......................................................................................................................................................... 54
CMA CGM .......................................................................................................................................................................................................... 58
Neptune Orient Lines (& APL) ........................................................................................................................................................................... 62
Hapag-Lloyd ....................................................................................................................................................................................................... 67
Evergreen Line ................................................................................................................................................................................................... 70
China Ocean Shipping (Group) Company (COSCO) .......................................................................................................................................... 74
CSAV Shipping ................................................................................................................................................................................................... 79
China Shipping (CSCL) ...................................................................................................................................................................................... 83
Hanjin Shipping .................................................................................................................................................................................................. 87
Mitsui OSK Lines (MOL) .................................................................................................................................................................................... 93
Nippon Yusen Kabushiki Kaisha (NYK) .............................................................................................................................................................. 98




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