Nigeria Shipping Report

Published 11 February 2015

  • 91 pages
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  • Includes 3 free updated quarterly reports
Nigeria Shipping Report

BMI View: Nigeria's biggest ports are set for modest growth in 2015, with the Port of Lagos forecast to grow 2.0% year-on-year (y-o-y), which is slightly below growth rates at the ports of Harcourt and Tincan Island (2.5% and 2.4%, respectively). Meanwhile, the Port of Sapele is leading the way in terms of y-o-y growth, with 3.0% growth expected.

Nigerian seaports registered a 12.5% year-on-year (y-o-y) rise in cargo throughput to 22.3mn metric tonnes in Q314, compared to 19.8mn metric tonnes in Q313, according to the Nigerian Ports Authority (NPA). This bodes well for the Nigerian shipping industry going forward. In the reported period, the seaports posted a 41.7% y-o-y rise in general cargo throughput to 4.21mn metric tonnes, while a 0.6% y-o-y and a 5.8% y-o-y increase was recorded in dry bulk cargo and liquefied natural gas (LNG) volumes to reach 2.6mn metric tonnes and 5.1mn metric tonnes respectively. The total gross registered tonnage reached 38mn metric tonnes in the same period, up 9.8% y-o-y, compared with 34.6mn metric tonnes during the same period a year before.

That said, growth in Nigeria's industry may come in a slower rate than previously expected due to the fact that Nigeria's economic growth rate is expected to slow to 5.6% in 2015, due to the drop in oil prices. Inflation is likely to rise, on the back of an 8% devaluation of the naira in late November. For its mid-term policy, IMF noted that the Nigerian government will have to focus on other sectors than crude oil, such as agriculture, trade and services in order to control growth. 'The authorities fully recognise the implications of this exogenous shock. They have already taken bold measures to counteract lower oil receipts, pressure on the naira, and a fall in reserves,' said IMF's Mission Leader to Nigeria, Gene Leon (Reuters).

Headline Industry Data

  • 2015 Port of Lagos (Apapa) tonnage throughput is forecast to increase by 2.0% to reach 24.55mn tonnes.

  • 2015 Port of Harcourt tonnage...

Table of Contents

BMI Industry View
Business Environment
Industry Forecast
Port Of Lagos Throughput
Table: Major Port Data, 2011-2018
Table: Trade Overview, 2011-2018
Table: Key Trade Indicators, 2011-2018
Table: Top Import Destinations, 2004-2012, USDmn
Table: Top Export Destinations, 2004-2012, USDMn
Market Overview
Nigeria Container Shipping Market Overview
Industry Trends And Developments
Shipping - Global Industry View
Container Demand:
Container Supply:
Container Rates:
Global Company Strategy
Maersk Line
Mediterranean Shipping Company (MSC)
Evergreen Line
COSCO Container Lines Company (COSCON)
Macroeconomic Forecasts
Economic Analysis
Table: Nigeria - GDP by Expenditure
Demographic Forecast
Table: Nigeria's Population By Age Group, 1990-2020 ('000)
Table: Nigeria's Population By Age Group, 1990-2020 (% of total)
Table: Nigeria's Key Population Ratios, 1990-2020
Table: Nigeria's Rural And Urban Population, 1990-2020

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.


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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'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