Croatia Shipping Report

Published 26 May 2015

  • 90 pages
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$1,295.00
Croatia Shipping Report

Weak recovery on the cards

Croatia's main maritime hub, the Port of Rijeka, will see low bulk tonnage growth this year, with a slightly stronger expansion of container traffic. Performance at the ports of Ploce and Sibenik will be mixed, with container throughout at the latter falling. The reason for this disparate performance will be the weak state of the domestic economy and the country's poor foreign trade showing. After estimated strong growth in 2014, we expect foreign trade expansion to ease back again in 2015.

We have edged up our growth forecast for the Croatian economy this year, but it remains a stand-still scenario. Consistent with a run of year-on-year contractions since 2009, GDP again fell by 0.4% in 2014. For 2015 we now predict growth of 0.3% (up from 0.1% previously), with the pace of expansion rising marginally to 1.0% in 2016. Positives include the effect of lower oil prices and the gradual eurozone recovery. But the numbers are in keeping with our view that Croatia is caught on a low-growth trajectory unless and until the government finds a way of tackling the serious competitiveness issues facing the economy. Croatia is amongst the least competitive economies in the EU, labour laws are overly restrictive, and the country's bureaucracy is cumbersome and bloated. A key problem is that much of the work force receives relatively high salaries for low-productivity jobs, With elections due in early 2016 the ruling centre-left government will be unwilling to take unpopular measures to improve productivity. This implies wages will remain high by regional standards, Croatian exports will be relatively expensive, and overseas investors will steer clear of investing in any export-orientated industries.

Headline Industry Data

  • In 2015 port of Rijeka tonnage volume will grow by 1.7% to 9.178mn tonnes, after 3.9% growth in 2014. Over the medium term to 2019 we project average annual growth of 3.0%.

  • Container throughput at Rijeka in 2015 forecast to...

BMI Industry View
5
SWOT
8
Shipping
8
Political
9
Economic
10
Operational Risk
11
Industry Forecast
13
Port Of Rijeka Throughput
13
Table: Major Ports Data (Croatia 2012-2019)
18
Table: Trade Overview (Croatia 2012-2019)
18
Table: Key Trade Indicators (Croatia 2012-2019)
19
Table: Croatia's Top Import Partners, 2006-2013 (USDmn)
20
Table: Croatia's Top Export Destinations, 2006-2013 (USDmn)
21
Market Overview
22
Croatia Container Shipping Market Overview
22
Shipping - Global Industry View
28
Three Container Routes To Watch In 2015
28
Global Company Strategy
35
Maersk Line
35
Mediterranean Shipping Company (MSC)
46
CMA CGM
52
Evergreen Line
61
COSCO Container Lines Company (COSCON)
69
Macroeconomic Forecasts
77
Economic Analysis
77
Table: Economic Activity (Croatia 2010-2019)
85
Demographic Forecast
86
Table: Population Headline Indicators (Croatia 1990-2025)
87
Table: Key Population Ratios (Croatia 1990-2025)
87
Table: Urban/Rural Population & Life Expectancy (Croatia 1990-2025)
88
Table: Population By Age Group (Croatia 1990-2025)
88
Table: Population By Age Group % (Croatia 1990-2025)
89

The Croatia Shipping Report has been researched at source and features latest-available data and BMI Research'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 Croatia.

BMI's Croatia 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 Croatia.

Key Benefits

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