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Oman Freight Transport Report 2010Published by: Business Monitor International Published: Jan. 6, 2010 - 46 Pages Table of Contents
AbstractThe Omani port of Sohar was pushing ahead with its development into a major iron ore transhipment hub for the Middle East, with the award, in September 2009, of a US$200mn contract to build an iron ore jetty at the port. The contract for building the deepwater bulk jetty was awarded to a Indo-Italian joint venture (JV) made up of Saipem and Asia Foundations and Construction Limited (AFCONS). The companies will build the 1,380m jetty, which is designed to cater for Very Large Ore Carriers (VLOCs). BMI notes that the project's deadline appears to have been pushed back, with the Oman Observer reporting in December 2008, that the contract was set to be awarded in Q209, with work scheduled to begin in mid- 2009 and the facility to be operational at the end of 2010. The launch date is now believed to be in Q1 2011, according to the newspaper. The deepwater bulk jetty marks another step toward the port of Sohar's plan to function as an iron ore shipping hub. The jetty will cater for the needs of the Brazilian mining company Vale, which is setting up an iron-ore pellet-making facility next to the port. BMI has previously noted that these facilities at the port of Sohar will give Vale unparalleled access to the Middle East market. BMI notes that the iron ore bulk will be transported from Brazil to the Port of Sohar. It will then be made into pellets for domestic use and for re-shipment to other markets in the region. BMI's shipping team notes that the port of Sohar is well-positioned for transhipment, as the port is on south east coast of the Arabian Peninsula and offers shipping routes via the Gulf Sea to the United Arab Emirates (UAE), the east coast of Saudi Arabia, Kuwait, Iran and Iraq. Oman is also well placed for shipping access to routes via the Gulf of Aden to service the west coast of Saudi Arabia and North Africa.Apart from air cargo and selective statistics from some ports, there are few consistent data series available for Omani freight transport. BMI has made estimates for maritime transport, pipeline throughput, and road haulage to give an overall picture. These were initial estimations and will be adjusted as we carry out more detailed research. According to our forecasts, GDP will grow by an average annual rate of 3% over the 2010-2014 forecast period, significantly slower than the 7.0% average registered across the preceding five years. We expect that overall freight tonnage, measured in millions of tonnes, will grow by 2.6% over the same five-year period. According to our latest estimates, transport and communications GDP rose by 2.2% in 2009, faster than overall GDP, which we estimate to have increased by 1.7%. For the 2010-2014 forecast period, we expect the transport and communications sector to continue outpacing the economy as a whole in value terms. It will achieve average annual growth of 2.9%, versus 2.8% for overall GDP. The total value of transport and communications GDP will rise to US$7.9bn in nominal terms by 2014, representing 9.5% of Oman’s GDP. There are no reliable figures for the number of people employed in the transport and communications sector. By transport mode, we expect shipping volume to rise by 2.4% per annum on average, driven by the development of the Sohar and Duqm ports and industrial complexes, and by further trade liberalisation. Air cargo will be grow the fastest, expanding by an annual average of 3.3%, supported by a strong showing from Oman Air. We estimate that road haulage will continue to grow a little faster than GDP at 3.0% per annum and that pipeline throughout will expand by 2.8% on the same basis. Get Full Details About This Report >> |
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