By Andy Sambidge
Port of Salalah sees container cargo grow by 13% while revenue, profit also rises
Salalah Port Services Co on Saturday said it handled its highest quarterly container volume in the port's 14 year history during the second quarter of 2012.
It recorded a throughput of 920K TEUs (Twenty-foot Equivalent Units while for the first half of the year, container cargo volumes grew by 13 percent and non-container volumes by four percent compared to the same period last year.
It added in a statement that a number of new companies have recently signed up for investment in Salalah Port and Free Zone which will result in "massive increases in cargo growth and job creation".
To facilitate this growth, Port of Salalah and the Government of Oman are expanding the general cargo terminal and expect to double the amount of non-container cargo through the port by the end of 2014.
The port operator also said the use of Salalah as a distribution location for the growing markets of East Africa, India, and the Middle East has accelerated during H1 with new agreements signed.
The strong growth in volumes for H1 led to total revenue growth of nine percent to OR27.9m ($72.5m), compared to OR25.5m ($66.3m) for the same half-year period last year, the statement said.
The company's net profits jumped to OR3.24m ($8.4m), compared to OR865,000 ($2.2m) in H1 2011.
Peter Ford, CEO of Port of Salalah, said: "The positive financial results indicate that our customers see great value in Salalah as a hub and continue to be promoters of our business.
"With the new general cargo terminal expansion and diversification into liquid bulk we expect to grow the diversity of customers utilising the Port of Salalah for its choice location and incentives."For all the latest industry news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.