Strong growth projected for UAE freight sector
Boston, September 24, 2013
UAE’s freight sector is expected to see strong growth this year, with the country rapidly developing its logistics markets through investments across all of its transport modes, said a report.
Dubai World Central (DWC) is set to see strong growth in cargo throughput, with an expected boost in May next year when Emirates SkyCargo’s freighter fleet will be transferred to the new facility, said the SBWire report.
Etihad Rail has finalised a deal with Dubai Industrial City for the development of a rail terminal within the city, it said.
Logistics company Aramex posted a 12 per cent year-on-year increase in net profit to $19.7 million in the second quarter, compared with $17.59 million in the same period last year. The rise was attributed to growth in the core Gulf and African markets.
Jebel Ali and Port Rashid total tonnage throughput growth is forecast at 5.7 per cent for the year and to average 4.8 per cent per annum to 2017, said the report.
Key risk factors, however, come from continued sovereign debt crisis in the Eurozone, a major trade partner, and the continued political unrest in the Middle East, it said.