Economic Analysis of Container Transhipment in the Eastern Mediterranean Region

Abstract

With the increasing trade during the second half of the last century; container based transportation facilitated and enabled transhipment operations all over the world and as well as in the Mediterranean. In this context specifically, Suez Canal, which is located between the Eastern Mediterranean and Indian Ocean, offers significant opportunities in the container transpotation between Far East and European trade areas. And since the container ship sizes heading over the 20,000 TEU’s is underway, Mediterranean transhipment operations are heading into a new era; feeder service distances will be more important than the main route deviation distances. The average transhipment ratio is 80% in the Eastern Mediterranean while for the whole Mediterranean is 43% and various markets of the Eastern Mediterranean, Black Sea, Adriatic Sea and Balkan countries can easily access from Cyprus. A container terminal at the Port of Gemikonağı (Karavostasi), North-eastern side of Cyprus is offering ideal conditions for grabbing a share from these activities. As motherland for Northern Cyprus community Turkey’s hinterland, may count on behalf of the proposed Port of Gemikonağı which may become a container transhipment base for Turkey.