Browse the complete Report on: Chile Shipping Report Q4 2010
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There is plenty of cargo to move at Chile's largest container port, Valparaiso. Total tonnage was up by 15.1% year-on-year (y-o-y) for the first five months of the year. BMI projects a 17.4% increase at Valparaiso over the full year. May was the strongest month of the year so far, with the port handling 944,850 tonnes of cargo, equivalent to a y-o-y increase of 47.1% over May 2009 when Chile's shipping sector reached its nadir on the back of a slump in the country's trade volumes. The key driver of May's jump was imported goods, volumes of which rose by 51.6% during the month, outperforming exports, which increased by a more marginal 31.7%.
The surge in imports into Valparaiso in May ties in with a rise in the handling of containerised cargoes, which largely comprise manufactured goods produced overseas. Box shipments rose by 40.2% to 78,000 20-foot equivalent units (TEUs). The robust recovery seen throughout Chile's port sector in 2010 is all the more surprising given that the country's freight transport industry is still suffering the effects of a major earthquake that rocked the country on February 27, causing extensive damage to roads and port facilities, particularly in the worst-hit centre-south region. A direct comparison can be made with Haiti, where the earthquake on January 12, though less severe, measuring 7.0, had a far more devastating impact on the country's infrastructure and freight transport sector. Haiti's main international port, Port-au-Prince, was extensively damaged by the quake, with shipping services only partially resumed on February 16.
The Chilean market remains supportive of the shipping and ports sector. The strength of the country's political institutions was demonstrated by the calm reaction to the devastating February earthquake, and the focus is now on reconstruction. Investment in rebuilding work coupled with strong consumer demand is driving the economy forward. After contracting during the global recession of 2009, we are now predicting that Chile's GDP will surge forward by 5.2% in 2010, easing to 4.5% in 2011 as the global economy slows. New President Sebastián Piñera lacks a majority in Congress, which has blocked his proposed mining reforms; however, we believe this will not be a negative for day-to-day macroeconomic management.
Data from Chile's main ports confirm rising levels of activity in 2010 as both the local and global economies remain on a recovery path. For the Port of San Antonio (POSA) BMI is forecasting 11.2% growth in total tonnage this year, after an 8.3% drop in 2009. For the five years across the 2010-2014 forecast period we believe POSA tonnage will reach an impressive average annual growth rate of 9.6%, well ahead of GDP. At the Port of Valparaiso (POV) meanwhile, tonnage, which fell by a massive 26.7% in 2009, will recover strongly with growth expected to reach 17.4% in 2010, followed by 16.6% in 2011. Average annual growth over the forecast period to 2014 will be considerably stronger than POSA at 15.9%. On the box side, POV will experience 2010 growth of 22.1%. In San Antonio, container growth this year will be 13.4%.
Chile's foreign trade is forecast to recovery strongly in 2010. Imports will expand by 46.1% in nominal terms to US$72.78bn. In real (volume) terms overall imports will grow by 19% this year, offsetting the 14.3% contraction experienced in 2009. Exports will grow slower than imports both in value terms - up by 44.2% to US$90.25bn - and in real or volume terms, gaining by 14%.
We believe the main risks to our Chile ports and shipping forecasts are on the downside. The main domestic risk is of a political deadlock in Congress between the centre-right government and the centreleft opposition, which, in certain circumstances, could hold back reforms and have a negative effect on domestic growth. The main external risk is of a larger-than-expected 'double dip' slowdown in world economic growth in 2011, with knock-on effects on Chilean trade volumes.
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Original Source : – Chile Shipping Market
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There is plenty of cargo to move at Chile's largest container port, Valparaiso. Total tonnage was up by 15.1% year-on-year (y-o-y) for the first five months of the year. BMI projects a 17.4% increase at Valparaiso over the full year. May was the strongest month of the year so far, with the port handling 944,850 tonnes of cargo, equivalent to a y-o-y increase of 47.1% over May 2009 when Chile's shipping sector reached its nadir on the back of a slump in the country's trade volumes. The key driver of May's jump was imported goods, volumes of which rose by 51.6% during the month, outperforming exports, which increased by a more marginal 31.7%.
The surge in imports into Valparaiso in May ties in with a rise in the handling of containerised cargoes, which largely comprise manufactured goods produced overseas. Box shipments rose by 40.2% to 78,000 20-foot equivalent units (TEUs). The robust recovery seen throughout Chile's port sector in 2010 is all the more surprising given that the country's freight transport industry is still suffering the effects of a major earthquake that rocked the country on February 27, causing extensive damage to roads and port facilities, particularly in the worst-hit centre-south region. A direct comparison can be made with Haiti, where the earthquake on January 12, though less severe, measuring 7.0, had a far more devastating impact on the country's infrastructure and freight transport sector. Haiti's main international port, Port-au-Prince, was extensively damaged by the quake, with shipping services only partially resumed on February 16.
The Chilean market remains supportive of the shipping and ports sector. The strength of the country's political institutions was demonstrated by the calm reaction to the devastating February earthquake, and the focus is now on reconstruction. Investment in rebuilding work coupled with strong consumer demand is driving the economy forward. After contracting during the global recession of 2009, we are now predicting that Chile's GDP will surge forward by 5.2% in 2010, easing to 4.5% in 2011 as the global economy slows. New President Sebastián Piñera lacks a majority in Congress, which has blocked his proposed mining reforms; however, we believe this will not be a negative for day-to-day macroeconomic management.
Data from Chile's main ports confirm rising levels of activity in 2010 as both the local and global economies remain on a recovery path. For the Port of San Antonio (POSA) BMI is forecasting 11.2% growth in total tonnage this year, after an 8.3% drop in 2009. For the five years across the 2010-2014 forecast period we believe POSA tonnage will reach an impressive average annual growth rate of 9.6%, well ahead of GDP. At the Port of Valparaiso (POV) meanwhile, tonnage, which fell by a massive 26.7% in 2009, will recover strongly with growth expected to reach 17.4% in 2010, followed by 16.6% in 2011. Average annual growth over the forecast period to 2014 will be considerably stronger than POSA at 15.9%. On the box side, POV will experience 2010 growth of 22.1%. In San Antonio, container growth this year will be 13.4%.
Chile's foreign trade is forecast to recovery strongly in 2010. Imports will expand by 46.1% in nominal terms to US$72.78bn. In real (volume) terms overall imports will grow by 19% this year, offsetting the 14.3% contraction experienced in 2009. Exports will grow slower than imports both in value terms - up by 44.2% to US$90.25bn - and in real or volume terms, gaining by 14%.
We believe the main risks to our Chile ports and shipping forecasts are on the downside. The main domestic risk is of a political deadlock in Congress between the centre-right government and the centreleft opposition, which, in certain circumstances, could hold back reforms and have a negative effect on domestic growth. The main external risk is of a larger-than-expected 'double dip' slowdown in world economic growth in 2011, with knock-on effects on Chilean trade volumes.
About Us
ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.
Contact:
Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/
Original Source : – Chile Shipping Market
Buy Now : Market Research Report
