Bahrain's main maritime facility, the Khalifa bin Salman port, is set to continue posting solid growth figures in 2015, 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 13.1% in 2015, with average annual growth of 10.6% between 2015 and 2019.
Growth in KBSP container throughput is forecast at 7.8% in 2015, with an average annual growth of 6.8% over our forecast period to 2019.
Real growth in total trade is forecast at 3.4% in 2015 and to average 3.5% over the medium-term.
Key Industry Trends
KBSP Dispute Resolved: A dispute over outstanding storage charges has finally been resolved at the Khalifa bin Salman Port (KBSP). In August 2014 the port operator, APM Terminals (APMT), began withholding and refusing to release containers from the facility if their owners had not settled their outstanding bills.
UASC Names First LNG-Ready Mega Vessel: Gulf-based ocean freight services provider United Arab Shipping Company (UASC) has named the first-ever liquefied natural gas-ready mega vessel, according to the company's website. The MV Sajir has a capacity of 15,000 twenty-foot equivalent units (A15) and is the largest and most eco-efficient vessel in that capacity range, the website states.
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. The listing would...