2014-02-17 13:09:50 - Profit buoyed by rapid growth and positive outlook of Middle East’s logistics and transport sectors
February 17, 2014
Globe Express Services (GES), one of the world’s top 100 global logistics providers, has announced that its gross revenue for its UAE operations in 2013 has increased by 27 per cent compared to 2012. Profit was buoyed by the rapid growth of, and positive outlook on, the Middle East’s logistics and transport sectors.
Strategically located between Europe and Asia, the UAE has experienced a significant growth in its logistics activities due to increasing regional and globe trade opportunities. The local sector is expected to further expand by 2015 to AED 37 billion amid the influx of infrastructural and commercial projects.
The UAE Government has been providing support to sustain the growth and further strengthen the sector. Government-backed international
trade events, for one, are held to showcase the UAE’s world-class air cargo, freight transport, ports management, and materials handling facilities.
Dubai in particular characterizes the country’s logistics potential. The emirate has been named the third largest re-export hub after Hong Kong and Singapore due to the size and efficiency of its ports. Jebel Ali Port and Port Rashid, for instance, are posting a steady 20 per cent increase in volume capacity. The UAE has also bolstered the capacity of Khalifa Port, a 2.2-square kilometer port and cargo handling facility in Abu Dhabi. With an initial capacity of 2.5 million twenty-foot equivalent container units (TEUs), it is expected to handle 35 million TEUs by 2030.
Mustapha Kawam, Managing Director-Gulf States, Globe Express Services, said: “We share the positive sentiments on the UAE’s transport and logistics sectors as we see growing industry opportunities across the region. The influx of infrastructural and commercial projects in Dubai and the rest of the UAE are definitely driving this growth. We look forward to further strengthening our presence in the region as we push ahead with our plans to further boost our services to address growing market demand.”