Bahrain's main maritime facility, the Khalifa bin Salman port, is set to continue posting solid growth figures in 2014, especially in terms of container throughput. Volumes at the facility are rising as a result of the massive hike in demand at Saudi Arabian ports.
Our outlook for the facility is a reflection of our forecasts for the Bahraini shipping industry as a whole. The country's domestic consumer demand outlook bodes well for its ports sector over the medium term. The port of Mina Salman should see tonnage volumes rise as well, on the back of demand from an extensive housebuilding programme under way in Bahrain.
Headline Industry Data
Growth in KBSP total tonnage throughput is forecast at 14.7% in 2014, with average annual growth of 11.8% between 2014 and 2018.
Growth in KBSP container throughput is forecast at 7.6% in 2014, with an average annual growth of 7.0% over our forecast period.
Real growth in total trade is forecast at 4.3% in 2014 and to average 3.9% over the medium term.
Key Industry Trends
IPO Planned For Khalifa Bin Salman Port Operator
In May 2014, Bahrain's Ministry Of Transportation revealed plans to launch an initial public offering (IPO) of shares in the company that operates the Khalifa bin Salman port (KBSP). The listing would fulfil a contractual agreement made when the port began operations in 2009 and is also expected to aid the recent recovery of the Bahrain stock market, in which the main index had fallen 17% between 2008 and 2012. The facility, with an annual capacity of 1mn twenty foot-equivalent units (TEUs), is operated by APM Terminals Bahrain under a 25-year concession. 80% of the company is owned by Netherlands-based APM Terminals, while the remaining 20% is controlled by Bahraini business group YBA Kanoo Holdings.
KBSP Seeks Larger Maritime Role
In an interview with Gulf Daily News in July 2013, Marco Neelsen, the chief executive of the Khalifa bin Salman port, said: 'Starting from next month, you will be...