elad levi, cfo, apm terminals west-med
TRANSCRIPT
Marine ports development as accelerator for the Moroccan economyPort Finance International Casablanca, September 2016
1
Marine ports development as accelerators for the Moroccan economy
1. About APMT
2. About Moroccan Economy
3. Framework for evaluation of economy development
4. Marine ports development impact on the economy
5. Tangier’s success story
6. Replicating success
2
APM Terminals is one of five primary business units of the Maersk Group
Maersk Group Copenhagen, Denmark
• 2015 Revenue: $40.3b USD(Shipping, Energy, Ports)
• 89,000 employees in 130 countries.
APM Terminals The Hague, Netherlands
• 2015 Revenue: $4.24b USD
• 2015 container volume: 36m TEUs (Container Volumes weighted by equity share)
• 21,171 employees, 69 countries
APM Terminals in Morocco
• APM Terminals Tangier: Investment of € 140 mio
• APM Terminals TangerMed-Port: Investment of € 758 mio
The Hague, Netherlands
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Our Vision:We believe we can change things, excel in Morocco’s development and sustain
global development ambitions
Our Mission:Be the transshipment reference, boost the customer’s value generation and be
the Hub locomotive
APM Terminals Tanger mission and vision
4
Moroccan economy has grown steadily through its 3 main sectors
Morocco’s GDP has been growing steadily…
…Through cross sectorial growth, especially in the service
sector
Source: The World Bank
6
The moroccan economy is driven by Services, Industry and Agriculture
18% 18%11% 12% 14%
31% 29%
31% 31% 29%
51% 53% 58% 57% 57%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
20001990
% of GDP
1980 2007 2015
AgricultureIndustryServices
Moroccan sectors’ GDP breakdown 1980- 2015
Source: World bank; EIU
11
The Moroccan economy has grown steadily
$0
$20
$40
$60
$80
$100
$120
GD
P in $
Moroccan GDP development ’96 -’15
5
Economic growth depends mainly on labor, Capital and productivity
Technology & productivity Capital Labor
Gross Domestic Product
Source: Cobb, C. W.; Douglas, P. H. (1928). "A Theory of Production”
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Marine ports accelerate forgien and local investments and result in creation of new business
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
20,000
15,000
35,000
30,000
25,000
5,000
10,000
# of new businesses
201520142013201220112010200920082007200620052004
M USD
New businesses registered (number)
Foreign direct investment, net inflows (current M US$)
Foreign investments and new businesses development in Morocco ‘04 – ‘15
Source: The World Bank
7
Marine ports investments improve logistics services to support the economic development
0
10
20
30
40
50
60
70
3.1
3.2
3.3
0.0
2.4
2.5
2.6
2.7
2.8
2.9
3.0
200620052004 201520142013201220112010200920082007
Connectivityindex Logistics Index
Logistics performance index: Overall (1=low to 5=high) Liner shipping connectivity index (maximum value in 2004 = 100)
Connectivity and logistics development in Morocco ‘04 – ‘15
Source: The World Bank
8
New business and investments decrease unemployment
Source: The World Bank
Moroccan Unemployment rate development ’00-’15
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
12.5
13.5
9.0
13.0
11.0
11.5
9.5
10.5
10.0
0.0
12.0
14.0
%
9
Marine ports have accelerated the Moroccan trade and economy
Ports investments support trade growth… …resulted in higher GDP growth
12September 20, 2016
Source: World bank
818180
8583
75
68
86
78
7168
62
20
25
30
35
40
45
50
55
60
65
70
75
80
85
90
20062005 201220112004 20152013 2014201020092008
% of GDP
2007
Trade (% of GDP)
Trade % of GDP development
Source: The World Bank
17
Growth existing sectors and development of new business
180
170
160
150
140
130
120
110
100
0
Growth
2003 201520142013201220112010200920082007200620052004
Agriculture, value added (annual % growth)
Industry value added (annual % growth)
Services, etc., value added (annual % growth)
Moroccan economy sectors GDP development development ’04-’15
Source: World bank
10
Furthermore, these benefits are significantly important in developing peripheral areas
Jobs
Infrastructure Employment Education
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“In just over a decade, this ancient port city went from dormant to dominant” – world bank
• Employment growth averaged 2.7% vs. 0.9% per year
• GDP growth 10% higher than the national growth
• One of Africa’s largest seaports and automotive factories, producing app 400,000 vehicles per year
• Multiple free trade zones and industrial parks while also thriving as a tourist destination
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The Moroccan strategy to become the hub for investment in Africa, will be strongly supported by current and future port infrastructure
Upcoming projects TM2 Nador, Kenitra, Casablanca, on a ,map of Morocco
Source: National port Strategy by 2030 – Ministry of transportations & equipment
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Q & A
15
Source: World bank
818180
8583
75
68
86
78
7168
62
20
25
30
35
40
45
50
55
60
65
70
75
80
85
90
20062005 201220112004 20152013 2014201020092008
% of GDP
2007
Trade (% of GDP)
Trade % of GDP development
16
Source: World bank
4
2
5
3
5
4
4
6
4
8
3
5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
5.5
6.0
6.5
7.0
7.5
8.0
8.5
9.0
20062005 201220112004 20152013 2014201020092008
% of GDPincrease
2007
Trade (% of GDP)
GDP % growth ’14-’15
17
Growth existing sectors and development of new business
180
170
160
150
140
130
120
110
100
0
Growth
2003 201520142013201220112010200920082007200620052004
Agriculture, value added (annual % growth)
Industry value added (annual % growth)
Services, etc., value added (annual % growth)
Moroccan economy sectors GDP development development ’04-’15
Source: World bank