Timing new transhipment
There is still demand for the stalled Jebel Ali 3 development, especially as a gateway to neighbouring Iraq and Iran
Regional projects that target the transhipment market have slowed in the last two years.
But already, there are signs that ports are looking to add transhipment capacity, and soon – particularly at Jebel Ali and Salalah.
Drewry Shipping says GCC container port utilisation stood at 85% last year. It believes that regional ports are heading for a capacity ceiling and will need to start expanding soon. Analyst Abhishek Tandon expects Arabian Peninsula container volumes to double within six years.
Drewry predicts that DP World will start to build the third terminal at Jebel Ali within two or three years. Although the local Dubai market has been depressed, the port acts as a gateway to the buoyant neighbouring markets of Iraq and Iran.
Mr Tandon advises caution, however. He sees a less pressing case for expansion in the Upper Gulf because markets such as Kuwait and Qatar handle low volumes of containerised cargo. “For now,” he says, “The major Gulf markets for new port expansion will be Dammam, Bandar Abbas and Jebel Ali.”
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