Feb 02 2012 |
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Shipping, ports must seek new frontiers
By Staff Report DUBAI - With the continued unpredictability of world markets, the shipping and port industry needs to watch for new frontiers for growth and emerging new patterns in global trade, said Mohammed Al Muallem, senior vice president and managing director, DP World , UAE Region.In a keynote speech to the second Middle East Liner Shipping Conference (MELSC) 2012, Al Muallem said: "The Middle East is among those regions that have reported decent trade volumes over the past two years. DP World 's experience shows that the emerging and developing markets offer new frontiers for growth for the industry as a whole. It is up to us, the shipping industry leaders, to explore these business opportunities."
The two-day annual conference, sponsored by DP World and supported by the Dubai Maritime City Authority (DMCA), is being held this week under the theme "Resilience Amid Global Economic Uncertainty - What Does the Future Hold for Middle East Liner Shipping?" Scores of industry leaders including ship owners and maritime analysts from around the region and outside are attending the event.
According to industry analysts Alphaliner, while the annual growth rate of global port throughput has almost halved from 14.1 per cent in 2010 to a projected 7.6 per cent in 2011, the change in the Middle East was from 7.5 per cent to seven per cent for the same period. DP World saw a return of volumes to the record levels of 2008 as early as in 2010 and posted a 10 per cent growth in gross volumes globally in 2011, with the UAE Region growing 12 per cent to 13 million TEUs for the year.
"We must step up our efforts, individually and collectively, as industry leaders to look for new cost-effective solutions to encourage supply chain growth."
© Khaleej Times 2012
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