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Peru Shipping Report Q1 2011


Peru Shipping Report Q1 2011

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Price $530.00
Meta Description No
Publisher Business Monitor International
Date of Report Aug 1, 2011
Quick Overview
Peru's economy continues to stand out as one of the strongest performers across the emerging marketsphere, and although there are some significant risks to its growth trajectory over the next 12 months, webelieve the outlook remains one of still-sound fundamentals and massive investment potential. Althoughgrowth is unlikely to maintain the rampant pace set in the first half of 2010, our core view remains thatPeru will continue along its longer-term path of developed-state convergence, providing significantopportunities for investors along the way. This is good news for the country's port sector, as furtherforeign investment in infrastructure, such as that we have seen in Callao, will be necessary to deal withincreasing traffic.
Our country risk team maintains the view that the economy will be a regional outperformer in 2010,supported in large part by robust domestic demand, which will see increasing container throughput at thecountry's main ports as demand for imports grows.
Headline Industry Data2011 port of Callao tonnage throughput forecast +6.51% following projected growth of 5.09% in 2010.2011 port of Paita tonnage throughput forecast +0.15% following projected growth of 16.51% in 2010.2011 port of Callao 20-foot equivalent unit (TEU) throughput forecast +6.13% following projectedgrowth of 5.26% in 2010.2011 port of Paita TEU throughput forecast +0.18% following projected growth of 19.96% in 2010.2011 total trade forecast +8.44%.
Key Industry TrendsPeru On Course To Position Itself As Regional Logistics Hub - BMI believes that attempts to increaseprivate investment in Peruvian ports could help them reach their potential of becoming transhipment hubsfor South America's east coast, serving not only the hinterland around Lima, but also the northern ports ofChile to the south and Ecuadorian ports to the north.
Port Of Callao Continues To Attract International Investment - The strong international interest inconstructing and operating terminals at Peru's main port of Callao reflects its position as a major tradehub in the Pacific region. It is the largest port on South America's pacific coast and one of the mostimportant container terminals in South America, offering access to Lima, as well as Chile and Ecuador.The port looks set to register stable growth in the coming years and as such BMI expects internationalterminal operators to continue vying for concessions there.
Further Investment Needed To Bring Infrastructure Up To Standard - While BMI welcomes theparticipation of international terminal operators as a positive step for the Peruvian port sector, we stressthat continued investment in infrastructure is badly needed. While the country rose 13 places in theinternational infrastructure ranking of the 2010 Global Competitiveness Index, published by the WorldEconomic Forum, to 97 out of 134 countries, BMI notes that it lags behind regional peers such as Chile(23) and Mexico (71). Ositran, Peru's supervisory board for investment in public transport infrastructure,this year estimated the gap in infrastructure investment at US$14bn - US$7.4bn for roads, US$3.6bn forports, US$2.4bn for railways and US$571m for airports.
Risks To OutlookPotential downside risks to our outlook include a possibility of reduced Chinese demand in 2011. OurAsia Country Risk team predicts that China's real GDP growth will drop from 9.7% in 2010 to 7.5% in2011. This will have a knock-on effect on its demand for raw materials. As China is second only to theUS in the list Peru's main export partners, any slowdown in Chinese spending will have a negative effecton the country's port sector.
A second downside risk is the possibility that Peru will not be able to improve its port infrastructure inorder to keep up with global demand for commodities. Congestion has become a problem at the main portof Callao and we believe that if the country does not improve efficiency and capacity there is a possibilitythat importers will look elsewhere for their supplies. We acknowledge, however, that importers aretraditionally repeat customers and supply contracts take some time to develop, therefore this is a mid-termrather than a short-term risk.
The main upside risk to our forecasts comes from increasing consumer demand from Peru's growingpopulation of 15- 34-year-olds. With average annual real GDP growth of 5.3% predicted during ourforecast period, demand for containerised consumer goods could rise, resulting in more port traffic.
Table of Contents
Executive Summary ........................................................................................................................................ 5
SWOT Analysis ................................................................................................................................................ 7
Peru 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 ............................................................................................................................................ 31
Port of Callao .......................................................................................................................................................................................................... 31
Overview ............................................................................................................................................................................................................. 31
Terminals, Storage And Equipment .................................................................................................................................................................... 32
Expansions And Developments ........................................................................................................................................................................... 33
Multi-Modal Links .............................................................................................................................................................................................. 33
Port of Paita ............................................................................................................................................................................................................ 34
Overview ............................................................................................................................................................................................................. 34
Terminals, Storage And Equipment .................................................................................................................................................................... 34
Expansions And Developments ........................................................................................................................................................................... 35
Multi-Modal Links .............................................................................................................................................................................................. 35
Industry Forecast .......................................................................................................................................... 37
Table: Major Port Data ...................................................................................................................................................................................... 39
Table: Trade Overview ....................................................................................................................................................................................... 40
Table: Key Trade Indicators ............................................................................................................................................................................... 41
Table: Main Import Partners .............................................................................................................................................................................. 43
Table: Main Export Partners .............................................................................................................................................................................. 43
Company Profiles .......................................................................................................................................... 44
A.P. M├śLLER-MAERSK .................................................................................................................................................................................... 44
Mediterranean Shipping Company (MSC) .......................................................................................................................................................... 52
CMA CGM .......................................................................................................................................................................................................... 56
Neptune Orient Lines (& APL) ........................................................................................................................................................................... 60
Hapag-Lloyd ....................................................................................................................................................................................................... 65
Evergreen Line ................................................................................................................................................................................................... 68
China Ocean Shipping (Group) Company (COSCO) .......................................................................................................................................... 72
CSAV Shipping ................................................................................................................................................................................................... 77
China Shipping (CSCL) ...................................................................................................................................................................................... 81
Hanjin Shipping .................................................................................................................................................................................................. 85
Mitsui OSK Lines (MOL) .................................................................................................................................................................................... 91
Nippon Yusen Kabushiki Kaisha (NYK) .............................................................................................................................................................. 96




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