Revenue up nearly 20% for Globe Express in Kuwait
Global logistics provider Globe Express Services (GES) has announced the H1 2014 gross revenue for its Kuwait office has increased by 19.5 per cent, driven by the government’s proactive approach in the development of large-scale infrastructure and logistics projects.
Remarkable progress in the country’s planned infrastructure projects, including the $1.2billion Mubarak Al Kabir (MAK) Port on Boubyan Island and a 36-km causeway linking Shuwaikh Port with Bouyan Island, complement GES's long-term growth plans in Kuwait, the company said in a statement.
Mustapha Kawam, managing director-Gulf states of GES, said: “There is no doubt that the government’s aggressive investment plans to upgrade its transport and logistics facilities has made Kuwait a lucrative logistics hub.
"We are upbeat that our innovative supply chain solutions will be a game changer in the local market and enable us to emerge as the key driver for the logistics sector and further consolidate our position in Kuwait.”
With the establishment of an integrated industrial and logistic zone around the Kuwait Free Trade Zone (KFTZ) located in Shuwaikh near the capital, Kuwait is well positioned to emerge as one of the leading transport and logistics hubs in the Middle East.
KFTZ is situated a very short distance from Shuwaikh Port and Kuwait International Airport (KIA), providing a viable option for ship-to-air consignments from Asian countries to Europe and the Americas.
Tonnage at the port of Shuaiba, one of the two main ports in Kuwait, increased by four percent in 2013 and is expected to reach an annual growth rate of 5.3 percent by 2017.
Similarly, air freight tonnage increased by 1.8 percent in 2013 and is on course to reach an annual growth rate of 1.4 percent by 2017.