Business Monitor International


Greece Shipping Report

Published 19 March 2014

  • 136 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Greece Shipping Report

Greece Inches Towards Small Recovery

Almost the only good news in our last quarterly report was that after six years of recession, the battered Greek economy was set to see its first year of positive growth in 2014. Three months on, we are still expecting positive growth in 2014, but the numbers are not as good as they were. We now estimate that the recession in 2013 was deeper than hoped (-5.1%, down from -4.4%), and we forecast that this year's recovery will be weaker, at +0.5% (down from +1.1%). In few words, this is because private and public sector deleveraging is still going on, investment is at a standstill, and only net exports are able to provide some small and rather uncertain stimulus given the fragile nature of the eurozone recovery. Household expenditure, the real driver of the Greek economy, remains deeply depressed. Purchasing power is being held in check by the grim employment outlook. Youth unemployment (under 25s) hit a staggering 59.0% in November last year.

Given that younger workers typically have a high propensity to consume compared with their older counterparts, this extremely high youth unemployment rate is a major impediment to consumer demand. The severity of domestic demand destruction, political instability, and lingering tail risks of Athens abruptly leaving the eurozone, have provided the corporate sector with additional justification for holding back from large-scale fixed investment. Even the small improvement in Greece's external position has resulted largely from a collapse in imports rather than from substantial gains in export competitiveness. This means that we remain pessimistic about the country's medium-term prospects. We believe Greece will manage average GDP growth of only 1.4% in the 2014-2018 period.

Greece's outward-looking shipping sector is partly protected from the disappointing domestic economy. European transit freight demand plays an important part in determining overall activity levels, as does investment in...

Table of Contents

BMI Industry View
7
SWOT
10
Shipping
10
Political
12
Economic
13
Business Environment
14
Industry Forecast
15
Port Of Piraeus Throughput
15
Port Of Thessaloniki Throughput
23
Table: Major Ports Data (2011-2018)
27
Table: Trade Overview (Greece 2011-2018)
28
Table: Key Trade Indicators (Greece 2011-2018)
29
Table: Top Import Sources, 2004-2012, USDmn
30
Table: Main Export Partners, 2004-2012, USDmn
31
Market Overview
32
Greece Container Shipping Market Overview
32
Industry Trends And Developments
41
Company Profile
45
Diana Containerships
45
Diana Shipping
47
Paragon Shipping
50
Navios Maritime Holdings
53
Excel Maritime Carriers
58
DryShips
62
Shipping - Global Industry View
67
Container Demand:
67
Container Supply:
74
Container Rates:
80
Global Company Strategy
84
Maersk Line
84
Mediterranean Shipping Company (MSC)
97
CMA CGM
102
Evergreen Line
112
COSCO Container Lines Company (COSCON)
119
Macroeconomic Forecasts
126
Table: Greece - Economic Activity
130
Demographic Forecast
131
Demographic Outlook
131
Table: Greece's Population By Age Group, 1990-2020 ('000)
132
Table: Greece's Population By Age Group, 1990-2020 (% of total)
133
Table: Greece's Key Population Ratios, 1990-2020
134
Table: Greece's Rural And Urban Population, 1990-2020
134

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