Report Published: "Kenya Shipping Report Q4 2015"

Our outlook for the Kenyan maritime sector is in line with that of the region - strong throughput growth forecasts as a result of robust economic activity and large-scale port developments. The continued expansion of the port of Mombasa, coupled with the imminent completion of the Lamu port, bode well for the development of Kenya as a strategic East African trade hub.

For 2015, we continue to hold a strong growth outlook for Kenya's ports and shipping sector based on three main factors: strong domestic growth in Kenya itself, a dynamic East African region (important because Mombasa acts as a trade gateway for many of Kenya's neighbouring countries) and, finally, continuing signs that Mombasa port's ongoing congestion problems are easing.

BMI remains bullish about prospects for the Kenyan economy. We are forecasting 6.4% GDP growth in 2015, with the economy rebounding strongly on an estimated growth of 5.3% in 2014. There are various reasons for the quickening pace. The key is rising consumer spending, supported by a better agricultural sector performance and rising tourism arrivals. Infrastructure developments are also playing a significant role. Investment has flowed into new transport schemes, including road improvements, an upgraded standard-gauge railway from Mombasa to Nairobi, and a commuter rail system for the capital. Many major roads have been recently resurfaced. While net exports are making only a small contribution to growth, the prospects for the economy are encouraging. Our medium-term projection (the five years to 2019) is for GDP to increase by an impressive annual average of 6.5%.

Full Report Details at
- http://www.fastmr.com/prod/1052949_kenya_shipping_report_q4_2015.aspx?afid=301

Headline Industry Data

Port of Mombasa tonnage throughput forecast to grow 7.5% in 2015 to reach 26.740mn tonnes. Growth to average 6.7% a year in the medium term to 2019.

Container throughput at Mombasa is forecast to grow 13.4% in 2015 to reach 1.147mn twenty-foot equivalent units (TEUs). Box growth to average 12.2% per annum to 2019.

The Kenya Shipping Report has been researched at source and features latest-available data and BMI Research's independent forecasting, critically analysing international transport of dry bulk and containers. The report evaluates the global commodities and trade backdrop, alongside in-depth country-specific analysis of trade prospects. The report also contains company profiles covering leading multinational and national shipping companies and analysis of latest industry news, trends and regulatory developments in Kenya.

BMI's Kenya Shipping Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the shipping industry in Kenya.

Key Benefits

* Benchmark BMI's independent shipping industry forecasts for Kenya

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