IHS analysis points to GCC as global cargo leader

Global economic rebound boosting Middle East growth prospects.
Growth, Infrastructure, Jebel ali port, Project cargo, NEWS

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Multibillion dollar investments in cargo infrastructure in the maritime sector will position the GCC region as the global cargo leader, announced global data provider IHS Inc. today at its IHS Forum in Dubai. 

The prediction is based on findings from a multi-sector study the US-based company, which provides and analyses information on the aerospace and defense, automotive, chemical, energy, finance, martime and technology industrues, carried out.

Initial estimates suggest that Dubai will make an $8billion cargo infrastructure investment and the private sector will contribute $10billion to help position the GCC as a global cargo leader, said Richard Clayton, chief maritime analyst at IHS.

“All eyes will be on Dubai in 2020 as it hosts the WorldExpo event and it is promising to be the biggest yet," he commented. "New roads, a peninsula-wide rail project, another airport, hotels, energy plants and event venues will generate project cargo on a grand scale.

"The region is home to the Jebel Ali mega-facility, and the world’s largest man-made port. IHS forecasts that by the end of 2014, the port will have an annual container capacity of 19 million teu with output pushing towards 20 million by 2020.”

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