The port of Riga which holds the top position in Latvia's maritime sector in terms of both total tonnage and container throughput is set to post growth in 2014 with increases forecast both in total cargo and box volumes.
Riga has a strong position to build on in 2014 in terms of box throughput enhanced by robust increase in volumes over the last four years and in terms of tonnage throughput which demonstrated strong growth at the beginning of the year.
Over the medium term we project further throughput growth at the port of Riga and tonnage throughput growth at Ventspils the country's second largest port in terms of the total throughput which will try to resume recovery to its pre-downturn tonnage levels.
Full Report Details at
Headline Industry Data
* 2014 port of Riga tonnage throughput forecast to grow 15%; over the medium term we project a 22% increase.
* 2014 port of Riga container throughput forecast to grow 3%; over the medium term we project a 17% rise.
* 2014 total trade growth forecast at 1.25%.
Key Industry Trends
Mariner To Invest EUR20mn in Riga Expansion Plans: Baltic Container Terminal's Malta-based owner Mariner is injecting EUR20mn in expanding its facility at the port of Riga. Through the expansion the company intends to tap opportunities from the Baltic Adriatic and Black Sea regions the UK and the Mediterranean. The investment will be used to boost the yard capacity and acquiring additional equipment and doubling its warehousing facilities.
Risks To Outlook
The base for container throughput growth at Latvia's ports stems in part from BMI's positive outlook for the country's economy with real GDP growth of 3.5% anticipated for 2014. Our positive medium-term forecast for Latvia's ports' box throughput also holds upside risks with Latvia getting better connected displaying a solid domestic demand outlook and developing its role as a gateway for cargo to and from Russia and Central Asia. This upside risk is further enhanced by Russia's membership...
The Latvia 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 Latvia.
BMI's Latvia 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 Latvia.
* Benchmark BMI's independent shipping industry forecasts for Latvia to test other views - a key input for successful budgeting and strategic business planning in the Latvian shipping market.
* Target business opportunities and risks in Latvia 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 (Strengths Weaknesses Opportunities and Threats) analysis of the state's shipping sector which carefully evaluates the short- and medium-term issues facing the industry.
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 (USbn) and exports (USbn).
Company profiles include business activities leading products and services company strategy trends and developments and economic performance analysis.
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