Machine Tool and Equipment in Oman: Oman Shipping Q1 2011

Publication date: November 2010

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On a global level we see risks to all three core shipping segments (container and dry and liquid bulk), with overcapacity and a drop in demand continually threatening to push down rates and impinge on lines' profits.
We are relatively bullish with regard to the Omani shipping segment 's prospects, and are projecting that the country's ports will all see growth in both tonnage and container throughput levels. Oman is diversifying away from an over-reliance on oil exports to become an industrial powerhouse, and as such it is developing its dry-bulk shipping segment , particularly at the port of Sohar. There are also developments at the port of Salalah in the pipeline; not only dry-bulk facilities but also an enlarged container terminal.

Headline Market Data
- 2011 port of Sohar tonnage throughput projection +8.84% following projected growth of +17.91% in 2010.
- 2011 port of Salalah TEU throughput projection +5.53% following a projected growth of 1.19% in 2010.
- 2011 trade growth projection at 1.94%.
Key Market Trends
Diversification into the dry-bulk segment . Following its developments at the port of Sohar, Oman is also grow ing its dry-bulk capabilities in the south of the country. At the port of Salalah a new general cargo terminal, capable of handling 40mn tonnes of dry bulk and 5mn tonnes of liquid products upon its completion, is to be constructed with an investment of US Dollar 195mn.
...But not neglecting its container-handling capabilities. Oman is also looking to grow its containerhandling capabilities, with plans to develop the port of Salalah until it is capable of handling 15mn TEUs per year , which would make it one of the world's largest ports in terms of container throughput. Oman's national carrier has plans to grow and move into new segments . Oman Shipping Firms announced in September that it is to double its fleet over the next two years, from the 19 vessels it currently operates to 42 owned and chartered ships by 2012. The industry player will also make its initial foray into container shipping.

Key Risks to Outlook
The primary risk to our throughput projections for Oman are to the upside as the country continues to diversify its economy and build up the attendant ports and shipping infrastructure, and the Middle East region continues to see its throughputs grow. However, as this diversification continues the country does risk becoming over dependent on the Middle East region importing its pelletised iron ore and other drybulk commodities.

Maritime Freight Industry in Oman

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