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Chile Freight Transport Report Q3 2008Product Type: Market Research ReportPublished by: Business Monitor International Published: July 2008 Product Code: R302-3467 Description San Antonio port was returning to normal on March 15, after a four day strike by stevedores who hadbeen complaining that their job security was threatened by the government’s failure to invest inexpanding and upgrading port capacity. The dock workers believed the state-owned dock sector wasfailing to keep up with Chile’s private ports, both in terms of investment and in pay and conditions for itsemployees. San Antonio is one of Chile’s largest ports, used to export copper concentrate and cathodesfrom state-owned Codelco’s El Teniente mining division and from Anglo American’s Los Bronces’copper mine. San Antonio also handles fruit exports, and shippers complained that end-of-summer fruitwas rotting on trucks and in containers because of the stoppage. Our latest Chile Freight TransportReport, BMI notes that the country’s maritime freight traffic will grow at an annual average of 5.1% inthe 2008-2012 forecast period. Various factors support this prediction. Chile remains one of the most open economies in the Americas,and relies on shipping for much of its trade. Ocean trade with Pacific Rim countries will remain dynamic.Growth will be underpinned by GDP expansion of 4.3% over the next five years, and by Chile’s strongmining export performance. It will, however, lag marginally behind the average annual growth in freightturnover across all modes, measured in mn tonnes-km (mntkm), which will reach 5.3% in 2008-2012. Forthe five-year forecast period and across the freight sector as a whole, BMI’s view is that good exportorientedgrowth, coupled with a favourable business environment and ‘catch-up’ infrastructureinvestments, all point to a good performance. Airfreight will lead (growth of 6.9% per annum), followedby road (5.2%). Chile is at the top end of our Latin American freight transport business environmentrating with a composite score of 72.3. It scores particularly well on long-term political and economic riskand on the regulatory and competitive environment. Freight and transport infrastructure growth arecomparable to those of counties in the peer group such as Brazil and Argentina. According to our latest estimates, the total value of transport and communications GDP will rise toUS$21.7bn in nominal terms by 2012, representing 8.2% of Chile’s GDP. The transport andcommunications sector employed an estimated 514,500 people, or 8.6% of the labour force in 2006. Wesee this rising to 553,200, and 8.7% of the total by 2012. Table of Contents |
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