Qatar ports record strong growth momentum in first quarter 2021
The container and cargo throughput via Hamad, Doha and Al Ruwais ports recorded strong growth momentum in the first quarter (Q1) of 2021, hinting at a rebound in Qatar, whose economy is expected to grow fastest at 5% for the whole of this year, according to the official figures.
In what shows the momentum in the infrastructure sector, which includes real estate for which the government has accorded top priority in the budget; building materials handled through these ports more than doubled year-on-year in Q1, 2021, said the figures of Mwani Qatar.
The general cargo movement through the three ports saw a stupendous 68.57% year-on-year surge to 274,404 tonnes in January-March 2021.
Hamad Port unlocks the potential for new business opportunities in Qatar as Mwani Qatar surges ahead with the development of sustainable ports as well as an integrated logistics chain that is aligned with the Qatar National Vision 2030.
The container handling through these three ports stood at 335,928 TEUs (twenty-foot equivalent units), which grew 22.39% year-on-year in the review period.
Hamad Port container terminals were made with universal specifications to facilitate expansion of container handling and to meet trade needs.
Qatar’s share in the overall Middle East trade is expected to significantly increase with the robust technological infrastructure supporting the Hamad Port’s second container terminal (CT2).
In 2019 Mwani Qatar and Swiss-based Mediterranean Shipping Company (MSC) had entered into a pact that saw Hamad Port become a regional hub for the Swiss company’s trans-shipment business.
Hamad Port will handle some 100,000 TEUs per year for MSC from 2020, with capacity growing to 1mn TEUs, which will be one-third of the overall capacity of the CT2.
The number of ships calling on Qatar’s three ports stood at 747 during Q2, 2021, which was nevertheless down 6.74% year-on-year.
The UNCTAD or United Nations Conference on Trade and Development expects the global maritime trade growth to return to a positive territory and expand by 4.8% in 2021, assuming world economic output recovers. But it highlights the need for the maritime transport industry to brace for change and be well prepared for a transformed post-Covid-19 world.
The building materials handled through the three ports more than doubled year-on-year to 198,950 tonnes in January-March 2021. The rebound of business activities, especially in the construction sector, rather corroborates the Qatar Financial Centre’s positive outlook on the non-energy private sector.
The three ports together handled 19,729 vehicles in the first three months of this year, which however registered a 3.65% decline on a yearly basis.
Source: Gulf Times