Fast Market Research recommends "Saudi Arabia Freight Transport Report Q3 2013" from Business Monitor International, now available
[ClickPress, Mon Jul 29 2013] The outlook for the Saudi Arabian freight transport sector is upbeat. The government stimulus package continues to make itself felt through increased consumer confidence, which is driving up container volumes at ports, though we do note that this slowed in the first four months of 2013. This will in turn boost road haulage volumes. Total tonnage volumes at Saudi Arabian ports are also seeing strong growth, and will be supported over the medium term by the massive house-building programme that is getting underway. The country is well supported by a growing fleet of dry and liquid bulk tankers, which continues to expand through company mergers and vessel acquisitions, and the national air carrier, Saudia, has been generating strong revenue and volume growth. Specific investments in expanding maritime facilities, and in projects such as the Saudi Landbridge and the north-south railway, coupled with strong economic growth on the back of large oil receipts, will further boost freight volumes.
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Headline Industry Data
* Total Saudi Arabian trade set to increase 1.5% in 2013 in real terms, with imports growing 5.0% and exports contracting by 2.0% as oil production decreases. Real trade growth will average 1.7% to 2017.
* Air freight volumes set to grow 8.5% in 2013, to reach 716,710 tonnes. Growth to 2017 to average 8.5% a year.
* 2013 Jeddah Islamic Port total tonnage throughput growth forecast 0.5%, and to average 5.6% a year to 2017.
* 2013 rail freight volumes forecast to grow by 8.8% in 2013 and to average 8.4% over our forecast period.
Key Industry Trends
Fleet Expansion To Support Saudia's Growth: BMI believes that Saudi Airlines Cargo (Saudia) will enjoy another year of strong volume growth in 2013 as it continues to develop its fleet, adding two new freighter planes. Saudia's growth reflects the Gulf-based air freight sector as a whole, where both airlines and airports continue to grow at an impressive rate.
Adrees, Bertschi Form Logistics JV: In May Saudi Arabian energy and logistics firm Adrees Petroleum and Transport Services Company confirmed plans to establish a new joint venture (JV) with Swiss multimodal freight firm Bertschi AG. The two firms signed a memorandum of understanding on May 26 2013.
Fees Rise At King Abdulaziz Port: Shipping fees are rising at the King Abdulaziz port in Dammam owing to a shortage of workers. Fees have risen by between 6% and 8% year-on-year at the facility in 2013. Fahad Al-Sudeiri, a member of the National Committee for Customs Clearance at the Saudi Chamber, attributed the increase to a rise in the cost of shipping and handling costs.
Key Risks To Outlook
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