The port of Constantza is set to once again post a year-on-year (y-o-y) increase in total tonnage throughput in 2014, while container throughput is expected to return to growth in line with the country's continued economic recovery.
Robust exports and a recovery in private consumption will support freight volumes at the country's ports.
Over the medium term, we project further growth at the port of Constantza and the recovery of its pre-downturn total throughput volumes. The box throughput, however, is projected to remain below 2007-2008 level.
Headline Industry Data
2014 port of Constantza tonnage throughput forecast to grow 3%; over the medium term we project a 22% increase.
2014 port of Constantza container throughput forecast to grow 3%; over the medium term we project a 23% increase.
2014 total trade growth forecast at 5.45%.
Key Industry Trends
Grain Terminal In Constantza To Expand: Canopus Star grain terminal at the Romanian port of Constantza port will see an expansion triggered by US-based multinational agribusiness company Cargill investment. The terminal's operational capacity will increase to 50,000 tonnes, while its warehouse capacity will grow to 110,000 tonnes, when the investment is completed in 2014.
Constantza Infrastructure Upgrade Continues: The Managing Authority for the Sectoral Operational Programme - Transport 2007-2013 and the NC "Maritime Ports Administration" SA signed the contract awarding the grant for the project "Development of the railway capacity in the river-maritime area of Constantza Port". The Managing Authority will organise the provision of funds for the total eligible amount of RON60,007,551.
Risks T o Outlook
The potential for growth at the country's ports stems from BMI's positive outlook on the Romanian economy. Container throughput will be driven by the country's consumers, with consumer demand in Romania forecast to strengthen. The country's real GDP is estimated to increase by 2.8% in 2014.
Upside risks to...