Ramzi
27-03-08, 11:21 AM
MUSCAT — A joint venture led by the Port Services Corporation (PSC), which has won provisional government approval to operate and manage Port Khasab in Musandam Governorate, is also considering the development of a free zone in the vicinity of the port. The move, according to PSC Chief Executive Officer Saud bin Ahmed al Nahari, is part of efforts by the Corporation to explore new business opportunities and diversify its operations beyond its current mandate to operate and manage Port Sultan Qaboos in Muscat.
In a report on PSC’s performance for the year 2007, published in the company’s latest Annual Report, Al Nahari stated: “The joint venture intends to enter into some understandings and alliances with some regional/international companies to establish a free trade zone and logistics services centres, in addition to other activities that will serve the port and its users.”
Last year, PSC announced that it had entered into a Memorandum of Understanding for establishing a JV with I Q Martrade Holding, a German company specialising in port operations and ocean freight, aimed at pursuing new opportunities within the ports sector. It further added that the JV was granted a concession award in principle to develop, operate and manage Port Khasab.
Also in line with efforts to develop its business portfolio, PSC had entered into a Memorandum of Understand-ing with the Port of Singapore Authority (PSA), one of the world’s leading port operators, with the aim of enlisting PSA as a “strategic partner” in the management of Port Sultan Qaboos.
However, in a recent statement to the Muscat Securities Market (MSM), PSC announced that it had suspended that move. Meanwhile, 2007 was another exception year for Port Sultan Qaboos. “During the year 2007 the port handled a record cargo throughput of 11,513,622 freight tonnes of cargo, surpassing the port’s designed capacity and the volume of cargo handled in any year since the inception of the Corporation,” Saud al Nahari stated.
According to PSC statistics, the number of vehicles handled at the port during 2007 soared to 165,866 units, as compared to 126,831 units in 2006. Containerised cargo volumes jumped from 230,363 TEUs (twenty equivalent units) in 2006 to 277,286 TEUs a year later. Bulk cargo volumes almost doubled from 827,358 FRT in 2006 to 1455,728 FRT in 2007, while general cargo volumes surged from 296,023 FRT in 2006 to 538,655 FRT last year.
With cargo volumes projected to further increase in 2008, the port — already operating at optimum capacity and facing space constraints — has launched a number of measures to cater to this growth in the short-term. Last year, a contract was awarded for the reclamation of a 30,000 sq m area for the creation of additional storage space. The Corporation is also developing further storage space of around 24,000 sq m in the commercial area of the port.
“The concerned authorities were also requested to implement other development activities such as the reclamation of new areas, and paving some of the yards inside and outside the port area, which are being planned for implementation during 2008,” the CEO stated. PSC has also initiated the process of expanding Port Sultan Qaboos to support its long-term growth requirements. On behalf of the Corporation, the Tender Board is currently evaluating bids for a contract to update a techno-economic feasibility plan for the expansion of the port. The updated study will help determine whether it is viable to develop the existing port or establish a new port in another area, Al Nahari said.
SOURCE: OMAN OBSERVER
In a report on PSC’s performance for the year 2007, published in the company’s latest Annual Report, Al Nahari stated: “The joint venture intends to enter into some understandings and alliances with some regional/international companies to establish a free trade zone and logistics services centres, in addition to other activities that will serve the port and its users.”
Last year, PSC announced that it had entered into a Memorandum of Understanding for establishing a JV with I Q Martrade Holding, a German company specialising in port operations and ocean freight, aimed at pursuing new opportunities within the ports sector. It further added that the JV was granted a concession award in principle to develop, operate and manage Port Khasab.
Also in line with efforts to develop its business portfolio, PSC had entered into a Memorandum of Understand-ing with the Port of Singapore Authority (PSA), one of the world’s leading port operators, with the aim of enlisting PSA as a “strategic partner” in the management of Port Sultan Qaboos.
However, in a recent statement to the Muscat Securities Market (MSM), PSC announced that it had suspended that move. Meanwhile, 2007 was another exception year for Port Sultan Qaboos. “During the year 2007 the port handled a record cargo throughput of 11,513,622 freight tonnes of cargo, surpassing the port’s designed capacity and the volume of cargo handled in any year since the inception of the Corporation,” Saud al Nahari stated.
According to PSC statistics, the number of vehicles handled at the port during 2007 soared to 165,866 units, as compared to 126,831 units in 2006. Containerised cargo volumes jumped from 230,363 TEUs (twenty equivalent units) in 2006 to 277,286 TEUs a year later. Bulk cargo volumes almost doubled from 827,358 FRT in 2006 to 1455,728 FRT in 2007, while general cargo volumes surged from 296,023 FRT in 2006 to 538,655 FRT last year.
With cargo volumes projected to further increase in 2008, the port — already operating at optimum capacity and facing space constraints — has launched a number of measures to cater to this growth in the short-term. Last year, a contract was awarded for the reclamation of a 30,000 sq m area for the creation of additional storage space. The Corporation is also developing further storage space of around 24,000 sq m in the commercial area of the port.
“The concerned authorities were also requested to implement other development activities such as the reclamation of new areas, and paving some of the yards inside and outside the port area, which are being planned for implementation during 2008,” the CEO stated. PSC has also initiated the process of expanding Port Sultan Qaboos to support its long-term growth requirements. On behalf of the Corporation, the Tender Board is currently evaluating bids for a contract to update a techno-economic feasibility plan for the expansion of the port. The updated study will help determine whether it is viable to develop the existing port or establish a new port in another area, Al Nahari said.
SOURCE: OMAN OBSERVER