Despite a poor business environment, weak consumer confidence and a lacklustre external environment, the Brazilian shipping industry is set to perform well over both the short and medium terms. A nascent policy shift will gradually regain investor confidence following years of unorthodox economic policies, but will be slow to translate into a significant uptick in growth.
We are sticking to last quarter's forecasts for the Brazilian shipping industry, which we predict will perform strongly in 2015. Annual tonnage throughput gains will be strongest at the Port of Itajai at 7.2%, while box throughput will be at its highest year-on-year (y-o-y) levels at the Port of Salvador, which is pencilled in for double-digit growth in 2015.
This high level of growth is forecast to continue over our forecast period to 2019, although risks are posed from both Brazil's lagging freight transport infrastructure and industrial action by Brazilian workers.
Key Industry Forecasts
Total tonnage throughput at the port of Santos to grow 6.00% in 2015 to reach 130.6mn tonnes.
Container throughput at Santos to grow 7.00% to reach 3.97mn twenty-foot equivalent units (TEUs) in 2015.
Total tonnage throughput at the port of Itajai to increase 7.19% in 2015 to reach 15.3mn tonnes.
Container throughput at the port of Itajai to grow 6.44% to reach 1.26mn TEUs in 2015.
Key Industry Trends
Hapag-Lloyd To Continue To Provide Service For Vitoria - German shipping company Hapag-Lloyd will continue to provide service for Vitoria, Brazil, through a weekly feeder connection, according to a press release by the company in January 2015. The service will be available through the port of Santos and will call at the terminals of Santos Brasil and Embraport. This will allow connections to the Hapag-Lloyd services to/from the East Coast of North America, the US Gulf, Mexico, Northern Europe and East Asia, the company stated (PortNews).
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