2013-12-09 10:34:44 - New Transportation market report from Business Monitor International: "Oman Shipping Report Q1 2014"
Oman continues to develop 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 the end of 2014. 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. On the macroeconomic side, growth in the Omani ports sector
will be supported by an expanding GDP and rising private consumption.
Full Report Details at
Headline Industry Data
* 2014 container throughput at Salalah forecast to return to growth of 3.2%, following an estimated 2013 decline of 5.0%. Growth to 2018 will average 6.1%.
* 2014 total tonnage throughput at Sohar forecast to reach 58.23mn tonnes - an expansion of 15.0%. Growth will spike in 2015 as commercial operations are transferred from the Port of Sultan Qaboos at Muscat.
* 2014 Oman total trade real forecast at 5.3%, and to average 1.6% per annum to 2018.
Key Industry Trends
OSC Signs OMR137mn Loan To Purchase VLOCs: Oman Shipping Company (OSC) has signed an OMR137mn (US$355.8mn) loan with two local banks to finance the purchase of four very large ore carriers (VLOCs). Bank Muscat will offer OMR107mn (US$277.13mn), while Bank Dhofa will contribute OMR30mn (US$77.7mn) towards the loan facility, which has a 12-year lifespan.
SIPC Signs Agreement To Provide Waste Collection And Disposal Services: Sohar Industrial Port Company (SIPC) has signed a licence agreement with the consortium comprising Nature Group and Al Ahlia Environmental Services to provide waste collection and disposal services to ships visiting the Omani Port of Sohar and the anchorage area. The agreement will allow the Sohar Port to fully comply with the Marpol convention.
Salalah Retains Placing In CI Port Ranking: The Port of Salalah has been ranked as one of the leading ports in the world for 2013. The ranking, calculated by Containerisation International, based its findings on both annual volumes and port productivity, saw the port come in at number 39 with container volumes totalling 3.62mn.
Key Risks To Outlook
There are considerable risks to our outlook for Omani maritime ports. The continued development of their dry bulk capabilities leaves it hard to project by just how much total tonnage throughput will expand at the facilities of Sohar and Salalah in the coming years. 2011's throughput growth of 139.4% at Sohar is indicative of this. Equally the 7.0% contraction in box volumes at Salalah in 2011 demonstrates how the port's transhipment business is subject to the vagaries of the global macroeconomic climate. Further complications arise from the closure of the Port of Sultan Qaboos in Muscat as a commercial shipping port, and the move of its operations to Sohar in 2015.
Report Table of Contents:
BMI Industry View
- Business Environment
- Port Of Sohar Throughput
- Port Of Salalah Throughput
- Table: Major Port Data, 2011-2018
- Table: Trade Overview, 2011-2018
- Table: Key Trade Indicators, 2011-2018
- Table: Main Import Partners, 2004-2011
- Table: Main Export Destinations, 2004-2011
- Oman Container Shipping Market Overview
- Oman Dry Bulk Shipping Market Overview
Industry Trends And Developments
- Oman Shipping Company (OSC)
Shipping - Global Industry View
- Box Demand: Container Outlook Strengthening In 2014
- Supply: Slowing New Vessel Deliveries To Decrease Overcapacity Pressure
- Table: Q313 Container Vessel Deliveries
- Table: 2013 Mega Vessel Orders
- Box Rates: Rate Push In Preparation For 2014
- Table: 2012 & 2013 SCFI Europe Base Port Average Freight Rate Overview
- Table: 2012 & 2013 SCFI USWC Base Port Average Freight Rate Overview
Global Company Strategy
- Maersk Line
- Mediterranean Shipping Company
- CMA CGM
- Evergreen Line
- COSCO Container Lines Company
- Economic Analysis
- Table: Oman - Economic Activity
- Demographic Outlook
- Table: Oman's Population By Age Group, 1990-2020 ('000)
- Table: Oman's Population By Age Group, 1990-2020 (% of total)
- Table: Oman's Key Population Ratios, 1990-2020
- Table: Oman's Rural And Urban Population, 1990-2020
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