Boston, MA -- (SBWire) -- 07/12/2013 --Oman continues to develop itself into a regional powerhouse for the shipping and transhipment of dry bulk goods such as iron ore. To this end a new port is being constructed at Duqm and new cargo terminals at Salalah and Sohar. The new Duqm port will also boast a new oil refinery. Further port developments include the announcement that all cargo operations are to be moved from the Muscat port of Sultan Qaboos to Sohar by 2013. All of this is aided by Oman's position on the Arabian Sea, outside the Persian Gulf, enabling it to offer shorter shipping lines than ports within the congested body of water. On the macroeconomic side growth in the Omani ports sector will be supported by an expanding GDP and rising private consumption.
Headline Industry Data
- 2013 container throughput at Salalah forecast to reach 4.00mn twenty-foot equivalent units (TEUs) on growth of 8.2%, and to average 7.0% growth to 2017.
- 2013 total tonnage throughput at Sohar forecast to reach 59.31mn tonnes, an expansion of 35.0% as commercial operations are transferred from the Port of Sultan Qaboos at Muscat.
- 2013 Oman total trade real forecast at 4.3%, and to average 1.7% per annum to 2017.
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Key Industry Trends
Oman Backs Port Of Salalah Importance: The development of the port of Salalah in Oman has been identified as a key element in the growth prospects of Oman's wider economy. The Omani authorities have identified the importance of the port's development as a means to strengthen the nation's logistics infrastructure, helping boost the nation's emerging reputation as a key hub in global trade.
Port of Duqm To Offer Bunkering Services: The Port of Duqm has confirmed that it plans to begin offering bunkering services by the close of 2013. The provision of bunkering services has been identified by the port authority as an integral part of its effort to carve out a reputation for the port as a world-class maritime gateway.
Port Of Salalah Union Election Gets Management Support: The election at the Omani port of Salalah of the Union Administrative Authority and the registration of 875 staff with the union's General Assembly was praised by port officials and union leaders.
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