Globe Express Kuwait revenue up 19pc
Kuwait, July 15, 2014
Globe Express Services (GES), one of the world’s top 100 global logistics providers, has announced that its H1 2014 gross revenue for the Kuwait office increased 19.5 per cent.
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. All these developments support GES’s growth strategy for the country where it has already reported a 19.5 per cent increase in its total revenue for H1 2014.
"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.”
The remarkable progress in the country’s planned infrastructure projects, including the $1.2 billion Mubarak Al Kabir (MAK) Port on Boubyan Island and a 36-km causeway linking Shuwaikh Port with Bouyan Island, complements the company’s long-term growth plans in Kuwait, a statement said.
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 at a distance of less than 10 minutes 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, it said.
Meanwhile, tonnage at the port of Shuaiba, one of the two main ports in Kuwait, which increased by 4 per cent last year (2013), is expected to increase to an annual growth rate of 5.3pc by 2017, while air freight tonnage forecast which increased by 1.8pc in 2013, reached a 1.4pc annual growth by 2017. - TradeArabia News Service