The UAE will continue to dominate the Gulf region's shipping sector as it continues to invest heavily in its facilities. Not only has the massive Khalifa Port had a hugely successful opening since beginning operations at the close of 2012, but the established behemoth, Jebel Ali, has continued to expand its capacity, helping it to keep ahead from the growing competition in the region. Its capacity will be increased to 19mn containers in 2015. Even the smaller Sharjah terminals are performing well, with record growth in recent years. As such we project continued strong growth at the facilities, especially as the global economy looks set to continue its resurgence from the doldrums in 2015.
Headline Industry Data
Sharjah Terminals container throughput (KCT and SCT) is forecast to grow by 5.9% in 2015, averaging 4.5% over the medium term.
Jebel Ali container throughput is forecast to grow by 3.5% in 2015. Through to 2019, we expect growth to average 3.9%.
Port Khalifa's box throughput will expand by 18.7% to 1.30mn TEUs. Growth will remain strong, averaging 15.6% to 2019.
Total trade real growth is forecast at 6.4% in 2015 and to average 4.8% through to 2019.
Key Industry Trends
Abu Dhabi Terminals To Invest USD109mn In Khalifa Port Expansion
UAE-based port operator Abu Dhabi Terminals has decided to invest USD109mn in the expansion of the Khalifa port container terminal. The investment will be used over the next three years to cover the cost of new cranes and enhancing the port's yard capacity.
SCT's Container Volumes Up 14% In January-June
Gulftainer reported a 14% year-on-year rise in container volumes at the Sharjah Container Terminal (SCT) in H114. The rise in volumes was partially contributed by the enhanced UAE-East Africa trade route and new projects and developments in Sharjah.
Container Shipping On Recovery Path, Says UASC CEO
UAE-based ocean freight services provider United Arab Shipping Company (UASC) anticipates a slow recovery in...