"Bahrain Freight Transport Report 2014" Published
Recently published research from Business Monitor International, "Bahrain Freight Transport Report 2014", is now available at Fast Market Research
Boston, MA -- (SBWire) -- 01/28/2014 --BMI Industry View
Bahrain continues to invest heavily into making itself a key logisitics centre in the Gulf. The primary port, the Khalifa Bin Salman Port (KBSP) is to have its channel deepened, and the Bahrain International Airport is to be expanded. We question whether the small island state can compete with the investment that has already been put into making Dubai a logistics hub for the region; however, Bahrain has succeeded in attracting new logistics companies to its territory over the past 12 months, and we forecast healthy growth across its freight modes over our medium-term forecast period.
Headline Industry Data
- Growth at the port of Khalifa bin Salman (KBSP) in terms of total tonnage throughput is forecast at 6.0% in 2014, with average annual growth forecast at 5.5% between 2014 and 2018.
- Growth in Bahrain International Airport tonnage handling forecast at 2.0% in 2014, with average annual growth of 1.7% over our forecast period.
- Real growth in total trade forecast at 4.5% in 2014 and to average 3.9% over the medium term.
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Key Industry Trends
New GCC Logistics Firm To Address Region's Freight Weakness: The planned Gulf Cooperation Council (GCC) Integrated Logistics Company, due to start operations in 2014, will offer a boost to the region's freight transport sector by streamlining its trade procedures. At present the Middle East and North Africa (MENA) region's score on the BMI Logistics Index is lowest on the Trade Procedures & Governance component of the index. BMI believes that the planned GCC Integrated Logistics Company will start to address the trade procedures and governance challenges in the GCC, but more needs to be done across the whole MENA region.
BIA Expansion Plan - Is More Transhipment Capacity Needed?: Bahrain International Airport's (BIA) cargo expansion plan comes despite the continued decline in air freight volumes through the facility. The airport has stated that its transhipment cargo is increasing and it appears that this is the area BIA is looking to develop in its expansion plan. BMI is questioning the need for yet more transhipment options in the Middle East, with the UAE set to remain as the region's major hub with Saudi Arabia, Bahrain's neighbour and potential customer for greater air cargo volumes, catering to its own needs.
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