"Bulgaria Shipping Report Q4 2015" Published

The Port of Varna is positioned to enjoy an impressive year of growth with tonnage set to be the outperformer , forecast t o increase by 14.00% year-on-yea r (y-o-y ), while container throughput is also pencilled in to enjoy healthy growth of 7.00% y-o-y. The ongoing cyclical recovery in the eurozone will support Bulgarian export growth over the coming quarters, as Germany and Italy receive over 20% of Bulgarian exports, hence our forecasts.

In addition, although we maintain that the lev is overvalued, euro depreciation has meant that the lev has also depreciated considerably against major currencies over the course of 2015. As a result, exports to non-EU countries increased by 10.4% y-o-y between over the first five months of 2015, underpinning the healthy shipping forecasts we anticipate over the short term.

Full Report Details at
- http://www.fastmr.com/prod/1038762_bulgaria_shipping_report_q4.aspx?afid=302

Russian demand for exports as the Russian economy remains in contraction, but Bulgaria's wide array of export destinations (and types of good exported) has enabled it to weather this storm, which is welcome news to domestic shippers who will thrive due to the diversification.

Headline Industry Data

2015 port of Varna tonnage throughput forecast to grow 14.00% to 14.70mn tonnes; over the medium term (to 2019), we project an average annual increase of 4.82%.

2015 port of Varna container throughput forecast to grow 7.00% to 141,920 twenty-foot equivalent units (TEUs); over the medium term, we project a 4.66% average annual increase.

2015 total trade growth forecast at 1.80%, down from an estimated 3.03% in 2014.

Key Industry Trends

Winds Close Varna: Due to strong winds around the coastal city of Varna, a decision was made to close all ports and channels at the seaport, reported Focus News Agency at the end of May 2015. This development, coming, as it did, as a result of gale force winds, may result in our forecasts being slightly tweaked in the near future as throughput dropped slightly.

The Bulgaria Shipping Report has been researched at source and features latest-available data and BMI Research'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 Bulgaria.

BMI's Bulgaria 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 Bulgaria.

Key Benefits

* Benchmark BMI's independent shipping industry forecasts for Bulgaria

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