MANAMA: Bahrain’s only commercial port has seen high double-digit growth since it started operating 10 years ago.
This has emerged during the 10th anniversary celebration of the Khalifa Bin Salman Port (KBSP) held yesterday under the patronage of Transportation and Telecommunications Minister Kamal Ahmed.
Over the past 10 years, KBSP has witnessed stable growth across various operations including container volumes which have grown by 54 per cent, roll-on/roll-off (RORO) traffic by 27pc, general and bulk cargo by 87pc, and served over 10,000 vessels which includes 357 cruise vessel calls that have collectively brought 721,343 visitors to Bahrain.
With a 123pc increase in the total import TEUs and 117pc in total export TEUs, the port’s annual throughput in 2018 was 432,432 TEU, which is 54pc higher than the throughput recorded in its first full year of operations.
TEUs stands for twenty-foot equivalent unit which is a measure of a ship’s cargo carrying capacity.
The port has also been a platform to groom Bahrain’s future ports, maritime and logistics workforce with 64pc of the workforce being Bahraini nationals.
KBSP has created 800 jobs for Bahrainis, with 500 of them being direct hires at the port and an estimated 300 indirect jobs.
Speaking during the event, Mr Ahmed said, “We are very proud today to celebrate 10 years of success with our partners at APM Terminals. Khalifa Bin Salman Port has significantly improved efficiencies of the port and maritime industry, and with 90pc of goods coming through the port, it is an invaluable part of Bahrain’s logistics’ industry infrastructure. Over the past 10 years, we have seen major improvements in safety and security, productivity and growth and we look forward to capitalising on this further into the future.”
With digital transformation as one of the core focus areas, the port’s growth in the last 10 years is also due to evolving of operations to cater to future-growth industries and customer requirements, along with increasing investments, said the minister.
“APM Terminals Bahrain and Ports and Maritime Affairs under the Transportation and Telecommunications Ministry have been working closely with various government agencies including the Economic Development Board and Customs Affairs under the Interior Ministry to facilitate more investments into the country, by offering attractive supply chain solutions and a business-friendly environment.”
Senior executives from APM Terminals Bahrain, the operator of the port, the maritime business community and government stakeholders were present on the occasion to celebrate the success of the public-private partnership.
Susan Hunter, the managing director of APM Terminals Bahrain, said, “As we celebrate a decade of partnership and growth, we’re proud to be part of KBSP’s success story of transforming the nation’s maritime and logistics sector and contributing to Bahrain’s future.”
“Working as partners and idea generators with the government entities and various business sectors, we continue to grow KBSP as a major regional hub for trade and transportation, enhance access to key markets such as Saudi Arabia, and the northern Arabian Gulf to provide a wide range of world-class marine services to all vessels calling at the port.”
On December 9, last year APM Terminals Bahrain got listed on the Bahrain Bourse with more than 700 shareholders.
The share price has almost doubled since listing and has outperformed the benchmark Bahrain Bourse index as well as the S&P GCC index.
Additionally, it has distributed a dividend of 16.5pc of the offer price to the shareholders in 2019 soon after listing.
The next phase of development at the port aims at optimising operational efficiencies to satisfy future demand and create potential for volume growth, said Ms Hunter.
Plans include tailored supply-chain solutions services to landside customers, introducing digital solutions such as online access control, e-payment solutions, and vessel traffic management system, attracting international cruise lines, and creating a seamless supply chain for project cargo imports for various industrial projects.
At the event, the ministry honoured five former senior executives who played a pivotal role in KBSP’s establishment: National Audit Office auditor-general Shaikh Ahmed bin Mohammed Al Khalifa; General Organisation of Sea Ports former deputy chairman Eid Yousif and former director general Ebrahim Al Hassar, Alba chairman Shaikh Daij bin Salman Al Khalifa, and former under-secretary for port and maritime affairs Hassan Al Majed.
An exhibition of photographs by the FotoBH local community, as well as photos showing the timeline of KBSP’s major milestones over the past 10 years was also held.
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