Boston, MA -- (ReleaseWire) -- 02/26/2014 -- Headline Industry Data
- Sharjah Terminals container throughput (KCT and SCT) is forecast to grow by 6.2% in 2014, averaging 5.1% over the medium term.
- Jebel Ali container throughput is forecast to grow by 7.1% in 2014. Through to 2018, we expect growth to average 5.5%.
- Total trade real growth is forecast at 6.9% in 2014 and to average 5.3% through to 2018.
Key Industry Trends
BMI Revises Up Outlook After Khalifa Hits 1mn TEUs: News that Abu Dhabi's mega-port of Khalifa has handled 1mn TEUs in its first year of operation has led us to revise up our forecasts for container throughput at the port in 2013 and over the medium term (2014-2018).
Jebel Ali Keeping Pace With Shipping Trends: The construction of a new container terminal at Jebel Ali in the UAE will help avoid over capacity at the port, which BMI currently forecasts will become an issue in 2014. The latest arrival of port equipment at the facility will cater for the world's largest container vessels, demonstrating Jebel Ali's ability to keep up with developing trends in the shipping industry. We believe that the new container terminal will ensure that the port retains its competitive advantage in a region where its rivals are vying to capture its market share.
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Government To Establish Ports, Customs And Free Zone Corporation: Shaikh Saud Bin Rashid Al Mualla, ruler of Umm Al Quwain in the UAE, issued a law on November 25 2013 to establish the Ports, Customs and Free Zone Corporation. The corporation will be a legal entity and will have financial and administrative independence.
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