Recently released market study: Bahrain Shipping Report Q2 2011

PRLog (Press Release)– Apr 30, 2011– Globally, we continue to see risks to all three core shipping sectors (container as well as dry and liquid bulk), with overcapacity and a drop in demand continually threatening to push down rates and impinge on lines' profits. As austerity measures take hold in Europe and the US continues to have high unemployment and recovers sluggishly from the downturn, shipping levels may slow their growth considerably.

While there is risk to the outlook in Bahrain because of political unrest, we forecast good growth at the country's primary port of Khalifa bin Salaman (KBSP), following a favourable macroeconomic outlook.

Headline Industry Data

* 2011KBSP total tonnage throughput growth forecast at 10.31%, and to average 7.39% from 2011 to 2015.  * 2011KBSP container throughput growth forecast at 7.72%, and to average 6.2% over our forecast period.  * 2011 total trade real growth forecast at 1.9%, and to average 3.04% over the medium term.

Key Industry Trends

Bahrain Not Immune From Regional Unrest: Bahrain has not escaped from the political protests that have swept the MENA region since the start of 2011. A number of large-scale demonstrations and protests, with growing demands from protestors, resulted in a number of international freight transport companies suspending operations in the country.

Nor From Domestic Strife: Bahrain's ports were also affected during the quarter by a two-week protest by their workers, Strikers at KBSP announced plans to start wearing red ribbons for two weeks, which was to be followed by a major demonstration at the gates of APM Terminals, the company that manages the port.

But New LNG Terminal Could Provide Boon To Sector: Better news for Bahrain's maritime sector came at the start of February, when Russian energy giant Gazprom, told the Bahraini government it was considering setting up a regional hub in Bahrain. The company was looking to capture the Indian and Pakistani markets by transporting gas through Bahrain.

Key Risks To Outlook

Following the fall of the long-standing regimes of Tunisia's President Ben Ali and Egypt's President Mubarak since t corsa he start of 2011, and Libya currently embroiled in civil war, any forecasts for the MENA region carry serious risk. Bahrain had its own demonstrations and it remains to be seen how far these will escalate and what their effects will be.
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