Panama Freight Transport Report - Q3 2010
Guardado en:
| Publicado en: | Panama Freight Transport Report (Third Quarter 2010), p. 1 |
|---|---|
| Publicado: |
Fitch Solutions Group Limited
|
| Materias: | |
| Acceso en línea: | Citation/Abstract Full Text - PDF |
| Etiquetas: |
Sin Etiquetas, Sea el primero en etiquetar este registro!
|
| Resumen: | Developments in Panama's freight sector over the medium term will be dominated by the expansion of the Panama Canal, due to be completed in 2014. The canal currently accounts for 30% of Panama's GDP and President Ricardo Martinelli's government hopes that the effect of the project on the country's economic growth will be extensive enough to make the country a first world economy. Given our positive macroeconomic outlook for Panama, which has already established itself as BMI's favourite Central American economy, and it is quickly becoming one of our favourites from a broader Latin American perspective, we expect freight infrastructure investment to continue to remain strong over the medium term. Our GDP forecast for 2011 is a strong 6.5%. The transport sector, by far the largest component of Panamanian GDP, experienced 14% growth in 2010. The sector is still predominantly driven by canal expansion and other public infrastructure projects, and the government's solid fiscal footing and investment plans mean public sector capital expenditure is only likely to contribute further to growth over the medium term. Key Industry Data * Air freight tonnes to grow by 5.5% in 2011, we predict average annual growth of 5% over the medium term * Total tonnage throughput at Balboa to grow by 6%, we predict average annual growth of 6% over the medium term * Total tonnage throughput at Manzanillo to grow by 3%, we predict average annual growth of 3% over the medium term. Key Trends Copa Airlines Not Likely To Merge Soon, Despite Growing Competition BMI believes that Panama's Copa Airlines is unlikely to consider a merger anytime soon, despite the fact that competitors Chile's LAN Airlines and Brazil's TAM have combined to create the biggest airline in Latin America. 'We don't feel pressure to have to run and merge with anybody,' Copa's Chief Financial Officer Victor Vial said in an interview at a conference in Panama City. The combination of Santiago-based LAN and Sao Paulo-based TAM will form the world's 11th largest carrier by passengers, according to data compiled by Bloomberg. However, the transaction poses 'no threat' to Copa, which is seeking to increase capacity by 20% in 2011 as it adds new flights and routes in Canada and Latin America, according to Vial. Currently, Copa Airlines has 22 737-700 and 737-800 passenger aircraft with an average capacity of 3,000 kilos of cargo per plane. Daily they transport some 75,000 kilos of cargo. |
|---|---|
| ISSN: | 2044-5784 2396-1872 |
| Fuente: | ABI/INFORM Trade & Industry |