New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 05/20/2013 -- 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 3.90mn twenty-foot equivalent units (TEUs) on growth of 5.5%, and to average 6.4% 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 3.8%, and to average 1.6% per annum to 2017.
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Key Industry Trends
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 2013 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.
Sohar Port To Construct New Container Terminal
Hong Kong-based container-terminal operator Hutchinson Whampoa has entered into an agreement to develop a new container terminal for Oman International Container Terminal at Sohar. The new terminal will spread over an area of 70 hectares and will increase capacity from 800,000 twenty-foot equivalent units (TEUs) to 1,500,000 TEUs.
Sohar Port Plans To Construct New Liquid Jetty
The Omani Port of Sohar intends to construct a new liquid jetty due to an expected increase in liquid cargoes handled at the port. The jetty will be able to handle product tankers of up to 120,000 deadweight tonnes. The jetty's detailed design and start of tender process for its construction are expected to be finalised by H213.
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