Friday, 8 April 2016

$7.5b Doha port to confirm Qatar’s position as worldwide logistics leader

JEDDAH - Specified for conclusion by 2020, the newest Doha port will propel the transportation sphere forward, double GDP, plus consolidate Qatar’s emergence as the world’s most significant producer of liquefied natural gas.

Tactically placed in the center of the prosperous Gulf Cooperation Council (GCC) nations, Qatar’s maritime shipping and delivery trade has undergone fantastic transformational alterations and it has begun to take off. Way back in 2010, the government unveiled a focused six-stage strategy to build a cutting edge and contemporary port on the coastline near the capital of Doha.

Having a combined population of well over 47 million not to mention yearly financial output at the top of $1.6 trillion (£1 trillion), the six GCC countries Bahrain, Kuwait, Oman, Qatar, Saudi Arabia as well as United Arab Emirates, make up a powerful block of open and integrated economies at a critical crossroads of the world wide economy, between Asia, Europe, Africa and even the Americas. With regard to international trade, in particular maritime shipping, the Middle East presents rewarding opportunities for businesses that can make use of the region’s emergence as a worldwide logistics centre. Back in 2014, Qatar, UAE, Oman, Jordan, Saudi Arabia and Kuwait ranked highest out of 45 emerging markets nations inside the key category of “market compatibility,” outlined by an simplicity of doing business.

As the location has become a considerably important part of world wide shipping and commerce, Doha has set itself apart from some other logistic hubs for instance Dubai through investing intensely in efficient modern infrastructure. Qatar’s maritime ports are going through major expansion. National project spending is likely to top $100 billion across infrastructure, real estate and other energy and non-energy industries across the up coming decade, reported by analysis from the Investment Bank of Qatar.

The new port project alone accounts for $7.5 billion of that spending. Formerly targeted for finalization in 2030, coordinators have sped up the time frame and supplied the resources to cut 10 years off of the construction time-line, finishing all 6 steps of the challenge in the following 5 years.

“By 2016 a state-of-the-art world class port will be accomplished,” said Sheikh Ali bin Jassim Al Thani. “Qatar is offering what other GCC nations cannot give for the reason that don't have the assets to do so. The latest port provides customers with easily accessible gas and electricity, easy to customize warehouses and distribution facilities, multi-purpose warehouses, 3rd party logistics (3PL), a contemporary and high-tech data center, a tremendous container yard, and a transport service shop. Moreover, they'll also have refrigeration services, chilled services and dry locations for those things that need to stay away from humidity.”

With the initial phase finished in 2016, the latest Port will consist of 3 terminals with an eventual combined yearly capacity greater than six million storage containers. The project doesn't just accommodate the predicted rise in container traffic, but will also deal with normal shipment traffic, vehicle imports, livestock imports, mass grain imports, foreign support vessels, coast guard vessels, plus a marine assistance unit. Follow-up projects include high-value and cutting-edge production amenities for the fabrication and repair off offshore and land-based petrochemical constructions, and for the construction, repair and maintenance of high-value smaller, medium and huge vessels. The port plan envisages a hub for maintenance, conversion and construction of all types of crafts, which includes tugs and workboats, military vessels and high-value smaller vessels such as luxury yachts, to the greatest vessels around the world.

All of this comes in addition to the state-of-the-art shipyard that has previously been constructed by Nakilat - Qatar’s state owned shipping company which operates and manages vessels as well as offers shipping and marine-related services. The Erhama Bin Jaber Al Jalahma Shipyard in the Port of Ras Laffan was launched in 2010, marking a milestone not just for Nakilat, but for the whole maritime business in the country.

“It is a $2.8 billion state-of-the-art facility for ship building and restoration, and the overseas community has given it a powerful appraisal with regard to development and level of quality,” stated Abdullah Al Sulaiti. “Now we have the capacity in Qatar to generate a variety of vessels, either industrial or commercial, when I suggest ‘commercial’ I mean top of the range luxurious yachts. In fact, we are presently constructing two 72 meter luxurious yachts; the first will be delivered by the end of next year. It is a big moment for Qatar’s young ship building sector and to discover such capability available in the country in such a short time period makes me extremely proud of what is being reached.”

Along with the world-class shipyard already operational at the Port of Ras Laffan combined with planned developments in Doha, Al Thani says that when all assignments are completed, several other regional shipping and logistics players won’t have the capacity to deal with Qatar.

“Dubai, for example, will be unable to contest with this degree of service in offering such a facility. Qatar is soaring up that marine shipping direction. We'll continue being a very good player and in the long run we will surpass them.”

Seeking to draw in yet additional international financial commitment, the authorities has arranged a specific economic zone beside the brand new port in Doha. The Qatar Economic Zone 3 (QEZ3), is a self-contained development containing industrial and residential facilities and forming a crucial link inside the country’s strategic fiscal plans. The QEZ3 will serve as a transportation and trade gateway into Qatar and provide financial hub around the Port for manufacturing, shipping and trade across numerous industrial sectors, producing import as well as export synergy.

What’s more, the Doha port project dovetails with Qatar’s breakthrough as the world’s largest supplier of liquefied natural gas (LNG). Inside of 20 years, Qatar has improved itself into the world’s primary distributor of LNG, contributing about a third of all intercontinental commerce.

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