Business Monitor International


Greece Shipping Report

Published 19 March 2014

  • 136 pages
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$1,295.00
Greece Shipping Report

Weak Recovery Still Expected In 2014

We continue to see the Greek economy slowly emerging from its multi-year recession. It is moving in the right direction, but slowly. We're holding our forecasts unchanged from our last quarterly report. That means that after an estimated 4.4% GDP contraction in 2013 (the sixth consecutive year of recession) we finally see positive growth of 1.1% this year, rising to 1.8% in 2015 and levelling off at 1.4% in 2016.

We still see little scope for impetus from household, government, or business spending, all of which remain weakened by the long crisis. In contrast we believe the driver of the limited recovery that is underway is net exports. However this necessary rebalancing of the country's external trade performance is happening in a sub-optimal way. Much of the improvement in trade has come from the collapse in domestic demand rather than through a significant improvement in export competitiveness (although some inroads have been made in this area). By relying more on a drop in imports than competitiveness gains, Greece's longer-term growth trajectory will be adversely affected.

Greece's outward-looking shipping sector continues to be partly protected from the full force of the domestic crash. European transit freight demand plays an important part in determining overall activity levels, as does investment in port facilities. Because of this the Port of Piraeus has been able to show year-on-year (y-o-y) gains in both tonnage and container traffic since 2011, despite falling Greek GDP. Indeed, we have raised our box traffic growth forecast for this year to an impressive 20%. The Port of Thessaloniki, which has lacked the benefits of large new investment, has followed a rather more volatile path with some quite sharp contractions in volume in 2011 and 2013, and this year is set to achieve growth in only a 1%-2% range.

Headline Industry Data

  • 2014 port of Piraeus tonnage throughput forecast to grow 7.8% to 16.685mn tonnes; over...

Table of Contents

BMI Industry View
7
SWOT
9
Shipping
9
Political
11
Economic
12
Business Environment
13
Industry Forecast
14
Port Of Piraeus Throughput
14
Port Of Thessaloniki Throughput
20
Table: Major Port Data
24
Table: Trade Overview
25
Table: Key Trade Indicators
26
Table: Top Import Sources, 2004-2012, US$mn
27
Market Overview
28
Greece Container Shipping Market Overview
28
Industry Trends And Developments
37
Company Profile
40
Diana Containerships
40
Diana Shipping
42
Paragon Shipping
45
Navios Maritime Holdings
47
Excel Maritime Carriers
51
DryShips
54
Shipping - Global Industry View
59
Container Demand: Growth Outlook To Bolster 2014 Box Volumes
59
Container Supply: Overcapacity To Remain An Issue In 2014
69
Container Rates: Volatile As Demand Ticks Up, But Oversupply Remains
78
Table: Shipping Lines' Agents Offices Raided In Russia
84
Global Company Strategy
86
Maersk Line
86
Mediterranean Shipping Company
96
CMA CGM
102
Evergreen Line
111
COSCO Container Lines Company
119
Macroeconomic Forecasts
125
Economic Analysis
125
Table: Greece - Economic Activity
129
Demographic Forecast
130
Table: Greece's Population By Age Group, 1990-2020 ('000)
131
Table: Greece's Population By Age Group, 1990-2020 (% of total)
132
Table: Greece's Key Population Ratios, 1990-2020
133
Table: Greece's Rural And Urban Population, 1990-2020
133

The Greece Shipping Report has been researched at source and features latest-available data and Business Monitor International (BMI)'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 Greece.

BMI's Greece 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 Greece.

Key Benefits

  • Benchmark BMI's independent shipping industry forecasts for Greece to test other views - a key input for successful budgeting and strategic business planning in the Greek shipping market.
  • Target business opportunities and risks in Greece through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
  • Exploit the latest competitive intelligence and company SWOTS on your competitors and peers including multinational and national companies.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering shipping, major investments and projects and significant multinational and national company developments.

SWOT Analysis

SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the state's shipping sector, which carefully evaluates the short- and medium-term issues facing the industry.

Market Overview

Analysis of the capacity, terminals and planned development of the major ports in each country, including data on throughput and total tonnage.

Industry Forecast Scenario

Historic data series (2008-2012) and forecasts to end-2018 for all key industry and macroeconomic indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Major port freight throughput (tonnes/teu); overall freight throughput (teu); total imports (US$bn) and exports (US$bn).

Company Profiles

Company profiles include business activities, leading products and services, company strategy, trends and developments and economic performance analysis.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc