New Market Research Report: Turkey Shipping Report Q4 2013

Throughput at Turkey's largest container port, the port of Ambarli, is set to increase in terms of both tonnage and box volumes in 2013, in line with the country's macroeconomic outlook, with real GDP forecast to grow despite Turkey's export sector heavily exposed to Europe.

Over the medium term we project further growth at Ambarli and a number of country's other ports. As BMI previously highlighted, the privatisation of Turkey's port sector has been followed by a flood of investment, with a number of projects underway to boost capacity at the nation's ports and the likes of DP World and APM Terminals entering the country's container market.

Full Report Details at
- http://www.fastmr.com/prod/700752_turkey_shipping_report_q4_2013.aspx?afid=301

Headline Industry Data

* 2013 port of Ambarli general and liquid bulk cargo tonnage throughput forecast to grow 14%; over the medium term we project a 35% increase.
* 2013 port of Ambarli container throughput forecast to grow 4%; over the medium term we project a 39% increase.
* 2013 total trade growth forecast at 6.1%.

Key Industry Trends

EBRD Plans to Offer Loan to Asyaport Liman: The European Bank for Reconstruction and Development (EBRD) is considering offering up to US$75mn in the form of a loan to Turkey's Asyaport Liman. The finances will be used to contribute towards funding a deep sea container terminal project, with the construction and operation of the terminal financed in part by the senior EBRD loan.

Government To Help Exporters With Suez Fee Payments: Turkish transporters, whose ro-ro operations via Egypt suffered due to security risks in Egypt, are trying to find alternative routes from Turkey to the Middle East. Sisa Shipping, one of the companies engaged in ro-ro services on this destination, declared it is ready to resume services using the Suez Canal to bypass Egypt en route to Saudi Arabia, thanks to the Turkish government launching a new plan.

Ukraine-Turkey Railway-Ferry Regulations Approved: Ukraine's cabinet of ministers approved the rules creating the legal basis for international rail freight ferry services between itself and Turkey, and approved the Draft Law on their ratification on July 17 2013.

Azeri Oil Shipments Via Ceyhan Decline: The State Oil Company of Azerbaijan (SOCAR) has released data on Azeri oil exports via the Baku-Tbilisi-Ceyhan (BTC) export pipeline. In August 2013 2.445mn tonnes of oil were shipped from Turkish port Ceyhan, compared to 2.448mn in July (a month-on-month decrease of 0.12%), 2.57mn tonnes in June and 2.76mn tonnes in May. Since the start of the BTC pipeline operations, Azerbaijan exported 223.6mn tonnes of oil via Ceyhan.

Risks to Outlook

The base for growth at the country's ports stems from BMI's outlook for the Turkish economy. Our 2013 real GDP growth forecast for Turkey is 2.8%, compared with 2012's increase of 2.2%.

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