Recently published research from Business Monitor International, "Oman Shipping Report Q1 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 02/06/2013 -- 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.
Headline Industry Data
- 2013 container throughput at Salalah forecast to reach 3.86mn 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 47.71mn tonnes, an expansion of 51.7% as commercial operations are transferred from the Port of Sultan Qaboos at
- 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
Valemaxes Boosting Sohar Throughput
BMI believes that the Omani port of Sohar will continue to enjoy strong growth in total tonnage throughput as a result of the ongoing investment in the port's industrial hinterland. The Oman Shipping Company (OSC) is supporting this growth through expanding its fleet, and to this end it has taken delivery of its second Valemax vessel, providing employment for the vessels now banned from Chinese ports.
Duqm Eyes Cooperation Prospects In Crude Oil Terminal
The Commercial Director at the Omani port of Duqm indicated in October that he sees potential for partnering with the Oman Oil Company (OOC) if a large crude oil storage terminal is developed near the facility. State-owned OOC is considering creating an oil storage facility with 200mn barrel capacity at Ras Markaz. Duqm is also involved with negotiations to create a new ship repair yard and terminals for cement and bitumen at the port.
OSC To Receive Five New Vessels
OSC will receive five new vessels - three very large ore carriers (VLOCs), a very large crude carrier (VLCC) and a liquefied natural gas (LNG) carrier, by 2014. These vessels are being built at China's Jiangsu Rongsheng Heavy Industries Group and South Korea's Hyundai Heavy Industries, and are indicative of the continued investment by the company into the rapid growth of its fleet.
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