Shipping firm eyes 20% revenue growth in 2018
Abdul Muhsen Shipping aims to achieve a 20 per cent revenue growth for the year 2018.
Established in 1991, the Jebel Ali free zone-based company handles the entire gamut of logistics services, which involve consolidation, warehousing, transportation and shipping. Gulf Pinnacle Logistics acquired a 75 per cent equity stake in Abdul Muhsen Shipping in 2014.
“We have been No 1 in the free zone for years as we handle around 1,200 TEUs per month and our closest competitor handles only 800 TEUs per month,” said Shailesh Dash, chairman, Gulf Pinnacle Logistics.
“Abdul Muhsen Shipping witnessed a 10 per cent annual growth in revenue during the last three years and we aim to double that growth rate in 2018,” the chairman said.
“We expect an increase in shipping activities at the Jebel Ali Port in 2018 as the majority of Expo 2020 projects will commence next year, fuelling demand for the logistics sector,” Dash observed.
The company’s Jebel Ali Free Zone office measures 49,000 square metres of land, with a built-up area of 23,500sqm of covered warehouse and 20,250sqm of open yard.
The shipping company plans to invest in modern infrastructure to keep pace with customers’ growing needs and to position itself as a major logistics player in the MENASEA region.
Source: Khaleej Times