Business Monitor International


Nigeria Shipping Report

Published 10 February 2014

  • 111 pages
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$1,295.00
Nigeria Shipping Report

Although we are sticking with our view that the Nigerian economy will grow by a robust 7.0% in 2014, we note that downside risks have increased over recent months. Specifically, ructions within the ruling party and the uncertainty surrounding the identity of the central bank governor are both issues which could destabilise the economy. That said, the country's shipping sector is set to perform well over the course of 2014, led in tonnage throughput terms by Port Harcourt, which is set to enjoy double-digit growth. Furthermore, the Port of Tincan Island is also expected to record healthy growth of just under 10%, while the Port of Lagos will also see healthy year-on-year (y-o-y) growth of 6.70%.

Nigeria registered a rise of 6.81% year-on-year (y-o-y) in GDP in Q3 2013, compared with 6.18% y-o-y in Q2 2013, according to the Abuja-based National Bureau of Statistics. The rise is attributed to an ease in the oil industry's contraction and an increase in agricultural output. Meanwhile, crude oil production grew from 2.11mn barrels in Q2 2013 to 2.26mn barrels in Q3 2013, despite disruptions in the country's oil export. 'Supply disruptions continue to hamper output in the oil sector,' the statistics bureau said (Bloomberg). This is detrimental to the country's shipping sector and plans are afoot to arrest this situation over the mid to long term.

Headline Industry Data

  • 2014 Port of Lagos tonnage throughput is forecast to increase by 6.70%.

  • 2014 Port Harcourt tonnage throughput is forecast to increase by 10.47%.

  • 2014 Port of Tincan Island throughput is forecast to increase by 9.74%.

  • 2014 trade growth forecast at 7.75%.

Key Industry Trends

AP Lekki Port Finally Gets Go Ahead - The deep sea port at Lekki, which has been on the back burner for a decade, has finally been given the go ahead. Operated through a joint venture between International Container Terminal Services Inc (ICTSI) of the Philippines and Singapore-based Tolaram Group, the contract will be a...

Table of Contents

BMI Industry View
7
SWOT
10
Shipping
10
Political
13
Economic
14
Business Environment
15
Industry Forecast
16
Port Of Lagos Throughput
16
Table: Major Port Data, 2011-2018
18
Table: Trade Overview, 2011-2018
19
Table: Key Trade Indicators, 2011-2018
20
Table: Top Import Destinations, 2004-2012, Us$Mn
21
Table: Top Export Destinations, 2004-2012, Us$Mn
23
Market Overview
24
Nigeria Container Shipping Market Overview
24
Industry Trends And Developments
32
Shipping - Global Industry View
38
Container Demand: Growth Outlook To Bolster 2014 Box Volumes
38
Container Supply: Overcapacity To Remain An Issue In 2014
48
Container Rates: Volatile As Demand Ticks Up, But Oversupply Remains
57
Table: Shipping Lines' Agents Offices Raided In Russia
62
Global Company Strategy
65
Maersk Line
65
Mediterranean Shipping Company
75
CMA CGM
81
Evergreen Line
89
COSCO Container Lines Company
96
Macroeconomic Forecasts
103
Economic Analysis
103
Table: Nigeria - Economic Activity
107
Demographic Forecast
108
NIgeria Demographic Outlook
108
Table: Nigeria's Population By Age Group, 1990-2020 ('000)
109
Table: Nigeria's Population By Age Group, 1990-2020 (% of total)
110
Table: Nigeria's Key Population Ratios, 1990-2020
111
Table: Nigeria's Rural And Urban Population, 1990-2020
111

The Nigeria 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 Nigeria.

BMI's Nigeria 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 Nigeria.

Key Benefits

  • Benchmark BMI's independent shipping industry forecasts for Nigeria to test other views - a key input for successful budgeting and strategic business planning in the Nigerian shipping market.
  • Target business opportunities and risks in Nigeria 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