New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/31/2013 -- Volumes handled on Oman's freight transport network are set to enjoy strong growth over the coming years. The sector will benefit not only from a rapidly growing economy, and consumer base, but also sizeable investment. This will not only benefit the sector directly, through the construction of a new railway line, investment in airports, and new terminals at the country's ports, but will also develop industries heavily reliant on the freight network system. An example of this is Vale's iron ore pelletising plant at Sohar, which generates considerable traffic of dry bulk ships at the port of Sohar.
Headline Industry Data
- 2014 tonnage throughput at Salalah is forecast to reach 9.22mn tonnes on growth of 12.3%, with growth to average 6.7% to 2018.
- 2014 total tonnage throughput at Sohar is forecast to reach 58.23mn tonnes, year-on-year (y-o-y) growth of 15.0%. Growth over the medium term to average 24.1%, due to the transfer of operations from Sultan Qaboos.
- 2014 air freight volumes forecast to grow by 9.7% and to average 6.9% over the medium term to 2018.
- 2014 Oman total trade real growth is forecast at 5.3%, and set to average 1.6% to 2018.
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Key Industry Trends
Oman's Aviation Investments Underpin Air Logistics Growth: The Omani authorities are seeking to boost the nation's emerging status as a regional hub for air logistics in the Middle East. The Omani Public Authority for Civil Aviation has overseen investments in the nation's air cargo infrastructure, supporting the state's growing aviation sector.
Government Launches Tender For National Railway Network: The Omani government launched a much-awaited Tender 4/2013 for the preliminary design of Oman's National Railway Network on February 10 2013, initiating the implementation of the project worth around OMR6bn (US$15.54bn). The scheme will be monitored by the Ministry of Transport and Communications and will add a rail component to the multimodal transportation system of the country for the first time. The rail network across the country will also be integrated with the proposed railway system in the Gulf Cooperation Council.
New Agribusiness Terminal Offers Upside To Sohar Forecasts: BMI sees potential for significant growth at the Omani Port of Sohar in the coming years. The facility is certain to see a massive hike in its throughput in 2015 as commercial operations at the Port of Sultan Qaboos at Muscat are transferred there, but we believe there is also scope for healthy growth over the medium term due to a raft of investments being made in new facilities. The most recently announced of these is a new agri-bulk terminal, which will be a key component of Oman's food security programme.
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