Boston, MA -- (SBWIRE) -- 02/23/2013 -- Market conditions for freight transport companies operating in Spain are going to be difficult in 2013. We do believe the overall economy will have got past the worst of the sovereign debt crisis and recession that did so much damage in 2012, but the country still faces the possibility of a 'lost decade' ahead. GDP fell by an estimated 2.1% in 2012, and we are predicting a further 0.5% contraction in 2013, with weak growth in 2014 of 0.5%. As these figures indicate, it will take the economy a number of years to return to pre-crisis levels of activity. With high unemployment and low business confidence, both consumption and investment will remain weak. Exports will make no more than a small positive contribution to the headline growth figure.

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Looking at the freight industry in greater close-up, we believe freight activity levels will hold up reasonably well in 2013, despite the depressed macroeconomic picture. So, to take some examples, box traffic at the port of Valencia will be up by 3.9%, and road haulage volume will gain 3.3%, both impressive numbers in an economy that will be otherwise standing still. Air freight and rail cargo growth will both do less well, with expansion of less than 1%.

Headline Industry Data

- Air freight volume is set to grow by 0.2% to reach 602,100 tonnes in 2013. Medium-term growth (to 2017) will average 0.8% per annum.
- Tonnage handled at the Port of Algeciras will grow by 2.0% to reach 76.239mn tonnes, with medium-term growth averaging 2.6% per annum.
- Boxes handled at the Port of Valencia will amount to 4.545mn TEU in 2013, an increase of 3.9% on 2012 levels, while medium-term growth will average 5.0% per annum.
- Rail freight volume will grow by 0.4% to 25.405mn tonnes in 2013, and by an annual average of 5.0% up to 2017.
- Cargo handled by road is set to increase by 3.3% to 1.560bn tonnes, with medium-term growth expected at 2.4% per annum.
- Total Spanish trade (imports + exports) will growh by 2.1% in real terms in 2013.

Key Industry Trends

Hard Times Ahead For Investment In Transport Infrastructure

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