Logistics Industry Update for Q4, 2014
The reduction of trade barriers internationally has led to rapid growth in the logistics market. As world trade grows, so do challenges for the logistics industry. Logistics has become one of the most important career fields in the world. Worldwide, more than $1.4 trillion is spent annually on logistics.
The logistics forecast is a positive one after a promising statement in the PwC 2030 logistics outlook vol. 3 saying, “New trade corridors between Asia and Africa, Asia and South America and within Asia will re-chart global supply chains. Trade volumes will shift towards emerging markets and least developed countries will take their first steps into the global marketplace. With Africa being economically poor, they have strong natural resources which countries are looking to exploit by opening up new trade corridors.“
Singapore’s prominence as one of Asia’s leading ports is diminishing with it looking unlikely to overtake Shanghaifor and Shanghai looking likely to increase its lead over the small asian country. Nevertheless, it is indicated that growth will remain positive buoyed by a return to growth in Europe and ongoing recovery in the US. Its gross tonnage will grow by 7.2% by the end of 2014 and will expand an average 5.4% over our medium-term forecast period to 2018. The UAE will dominate the gulf regions shipping sector with a heavy investment in its facilities being the main driving factor behind the prosperity. The successful opening of the Khalifa port and operational successes of 2013 have meant a further investment interest and announcement for plans to add a container terminal at Jebel Ali to help it keep ahead of the growing competition. Here’s how the UAE’s big ports are forecasted to do in the coming months:
- Sharjah Terminals container throughput (KCT and SCT) is forecast to grow by 5.6% in 2014, averaging 4.8% over the medium term.
- Jebel Ali container throughput is forecast to grow by 3.0% by the end of 2014. Through to 2018, we expect growth to average 3.8%.
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