(MENAFN- Emirates News Agency (WAM))
ABU DHABI, 8th February, 2018 (WAM) -- A positive outlook on 2018 and beyond remained a key topic during Breakbulk Middle East at ADNEC, Abu Dhabi.
Starting the discussion Abdelkareem Al Masabi, Executive Vice President, Ports at Abu Dhabi Ports said, "Over the past year alone, Abu Dhabi Ports handled 18.6 million tonnes of general and bulk cargo, while recording a compound annual growth rate, CAGR, of more than 70% over the past five years. Building on this we expect to see a continuous growth of over 10% this year and in the coming years, in the operations of general cargo handling and bulk shipments."
Rayan Qutub CEO at King Abdullah Ports said that Breakbulk volumes in Saudi Arabia were being driven by a large and young growing population, competitive energy prices and a strategic location. Qutub added that Cargo growth will be further boosted by Saudi Arabia's ambitious Vision 2030 project and the Kingdom's move to diversify its exports to reduce dependency on oil in the future.
King Abdullah Port's currently handles almost 20 million tones in Breakbulk handling operations. Qutub expected a "hypergrowth situation" through to 2020 with expected growth of 15 percent in breakbulk volumes. by 2020, King Abdullah Ports expects to be handling 29.5 million tonnes of breakbulk, up from 19.6 million tones in 2017.
Abdulla Bin Damithan, Commercial Director - UAE Region at DP World described breakbulk as one of trade's "most promising sectors" Damithan also said that while the sector possesses its own share of challenges for 2018, the overall outlook was "encouraging" and that breakbulk remained a "source of opportunity for the region." To aid growth he urged industry in the region to "work together" to promote the industry and to further simplify the supply chain.
Regionally, Bin Damithan said, the market was looking at recovery. Growth in infrastructure investment in Dubai in particular was being driven by construction for Expo 2020. "DP World is preparing to handle an increase of project cargo in connection with the Expo," he said.
Ben Blamire, Commercial Director Breakbulk Middle East, said, "We've hosted 70 exhibitors this year and we are happy to see that the specialist marine and logistics companies exhibiting truly understand the importance of continued investment in their market and want to create business opportunities by continuing to network, create partnerships and learn from best practice. We have seen fantastic levels of engagement, with a 26 per cent increase in total attendees.
WAM/Rasha Abubaker/Esraa Ismail
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