Nigeria Shipping Report

Published 13 July 2015

  • 96 pages
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$1,295.00
Nigeria Shipping Report

BMI View: Despite the fact that total trade is on the decline in Nigeria at present, and has been since 2011, the country ' s main ports are, however, set to experience healthy enough growth over the short to medium term.

The outperforming Nigerian port in terms of year-on-year (y-o-y) growth is set to be Port Harcourt (7.45%), which takes the top spot slightly ahead of the port of Apapa (7.27%) and the port of Sapele (7.13%) in 2015. Nigeria's second largest port by tonnage throughput terms, the port of Tincan Island, will, however, have a poor 12 months, ending the year with y-o-y growth of just 0.45%.

Crude petroleum is by far and away Nigeria's largest exported good and so the news that there will be lower oil export revenue will lead to a reduction in both private consumption and fixed investment this year and next, which will keep growth in the shipping sector relatively constrained - 2009 and 2011's double digit growth will not be repeated over the medium term.

Headline Industry Data

  • 2015 port of Lagos (Apapa) tonnage throughput is forecast to increase by 5.51% to reach 24.60mn tonnes.

  • 2015 port of Harcourt tonnage throughput is forecast to increase by 6.53% to reach 5.64mn tonnes.

  • 2015 port of Tincan Island throughput is forecast to increase by 1.24% to reach 16.38mn tonnes.

  • 2015 total trade is forecast to contract by 14.28%.

Key Industry Trends

Work To Start On Lekki Port - Construction is set to start at the proposed Lekki Deep Seaport project in Lagos Free Trade Zone (LFTZ), Ibeju-Lekki, Lagos State, Nigeria. Lekki Port LFTZ Enterprise issued the notice-to-proceed to its contractor China Harbour Engineering LFTZ Enterprise to begin work at the site. The project is estimated to cost USD1.65bn. The port facility will initially have an annual throughput capacity of 1.5mn twenty-foot equivalent units (TEUs), which will later be increased to 2.7mn TEUs. Work is expected to take 41 months to complete. Lekki Port is scheduled to open in 2019.

BMI Industry View
5
SWOT
7
Shipping
7
Political
10
Economic
11
Operational Risk
12
Industry Forecast
14
Port Of Lagos Throughput
14
Table: Major Ports Data (Nigeria 2012-2019)
19
Table: Trade Overview (Nigeria 2012-2019)
19
Table: Key Trade Indicators (Nigeria 2012-2019)
20
Table: Top Import Destinations, 2006-2013
21
Table: Top Export Destinations, 2006-2013
22
Market Overview
23
Nigeria Container Shipping Market Overview
23
Shipping - Global Industry View
33
Container Shipping: Three Key Themes
33
Table: Major Beneficiaries
33
Table: Order Book For New Mega Vessel Class
35
Table: Vessel Capacity By Trade Route
38
Global Company Strategy
40
Maersk Line
40
Mediterranean Shipping Company (MSC)
52
CMA CGM
59
Evergreen Line
70
COSCO Container Lines Company (COSCON)
78
Macroeconomic Forecasts
85
Economic Analysis
85
Table: Economic Activity (Nigeria 2010-2019)
91
Demographic Forecast
92
Demographic Outlook
92
Table: Population Headline Indicators (Nigeria 1990-2025)
93
Table: Key Population Ratios (Nigeria 1990-2025)
93
Table: Urban/Rural Population & Life Expectancy (Nigeria 1990-2025)
94
Table: Population By Age Group (Nigeria 1990-2025)
94
Table: Population By Age Group % (Nigeria 1990-2025)
95

The Nigeria 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 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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