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Figures for 2015 recently revealed by Salalah Port Services (SPS) highlighted the difficult trading conditions for the Omani port operator last year. Overall, revenues dropped 7.5 % in 2015 to RO 49.5 million (US$ 128.55 million), largely because of lower container transshipment volumes. The company achieved a net profit of RO 5.18 million (US$ 13.45 million), slightly down on the RO 5.26 million (US$ 13.66 million) recorded in the previous year.
Container throughput last year at Salalah was 2.57 million teu, which was down 15% compared with the 2.03 million teu handled the year before SPS did, however, record new highs at its general cargo terminal, which helped to offset the decline in container terminal transshipment volumes. The recently expanded general cargo terminal achieved a throughput of 12.54 million tonnes last year, a growth rate of 22% compared to 2014.
While container transhipment was down for the year as a whole, SPS says that the trend for the second half of 2015 was more positive, and it expects that a sustained recovery will take place in 2016 as a result. In a report submitted to the Muscat Securities Market (MSM), the company said that the global shipping market was facing an unprecedented glut in supply and reduced demand, which was increasing shipping lines’ reliance on transshipment hubs like Salalah to increase network efficiency.
