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REGIONAL REPORTSOUTHEAST ASIA


Rapid growth buoys projects sector


Southeast Asia continues to be a healthy market for the providers of project logistics services, driven by strong growth among Association of Southeast Asian Nations (ASEAN) economies, electricity requirements and rapid industrialisation. Sam Whelan reports.


trong economic growth among ASEAN’s developing economies is providing plentiful project opportunities in the fields of power generation and transport infrastructure, as the Southeast Asia region pushes ahead with its rapid industrialisation and urbanisation drive. Furthermore, signs of resurgence in oil and gas, opportunities from China’s Belt & Road Initiative (BRI), and a flourishing renewable energy sector are all factors


S 140 May/June 2018


adding considerable upside to the project logistics market. Analysis by FocusEconomics indicates another year of strong growth in 2018. It predicts the collective ASEAN economies will grow at a rate of 5.1 percent this year, following a five-year high of 5.2 percent in 2017. The analyst cites solid Chinese demand, an upturn in global trade flows, and increased public infrastructure programmes in Indonesia and the Philippines as leading positive indicators.


For cargo airline Volga-Dnepr, the region’s buoyant economy has resulted in increased charter flights.


“The economic growth migrates into rapid development in several industry sectors,” said Ivan Strelnikov, director of cargo charter operations Asia Pacific for the carrier.


“This includes manufacturing, oil and gas, energy and mining, which represent a significant portion of GDP in Southeast Asian countries. In order to pump up the projects and keep them going, special equipment is needed and is shipped to keep pace with production timeframes and deadlines.”


Charter flights The carrier’s total charter flights from Southeast Asia rose 33 percent in 2017, with the highest demand coming from Indonesia, Malaysia, Singapore and Vietnam.


www.heavyliftpfi.com


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