SOHAR see positives in China’s economic forecasts

·       SOHAR delegation to promote economic opportunities between Oman and China ·       Breakbulk China 2015 to provide the platform for engaging with Asia-Pacific Investors ·       Contrasting fortunes in Far East and Middle East construction sectors can be strengths A delegation from SOHAR Port and Freezone will aim to capitalise on the economic slowdown in China by focusing on the opportunities that are being created in booming regional markets when they attend Asia’s largest breakbulk and project cargo conference and exhibition, Breakbulk China 2015, later this month. Thousands of breakbulk and project cargo logisticians will attend the four-day event when it opens at the Shanghai World Expo Exhibition and Convention Centre on 17 March, and SOHAR Executive Commercial Manager Edwin Lammers said contrasting economic conditions in the Far and Middle East are not all bad. “China has cut its economic forecasts and set a much-reduced growth target of 7 percent for 2015. This will be the first time it has registered single digit growth for the best part of three decades. Its property sector is shrinking too, and while foreign trade fell by 11 percent in January, the opportunities are there,” he said. “For a start, the Middle East’s construction sector is a huge generator of breakbulk and project cargo, which grew by 51 percent at SOHAR last year. Saudi Arabia and UAE have for a long time commanded the top two positions in terms of spending, and Oman also awarded US$3.53 billion in infrastructure tenders last year.” “As demand for breakbulk imports continues to grow, our aim is to attract cargo volumes to SOHAR. Unlike other ports in the GCC, we have the demand, the space, competitive energy rates, and a skilled workforce that can cater to Chinese and other investors that involved in Asia’s various global supply chains,” he said. Residential projects and expanding industrial areas like SOHAR Freezone are behind infrastructure spending in Oman, as are the thousands of kilometres of new railroads and expressways that are providing Oman’s premier logistics hub with unrivalled connectivity from its strategic position outside the Strait of Hormuz. “Being outside the Strait of Hormuz gives us a real advantage over other port and freezone sites when it comes to handling breakbulk project cargo. Our multimodal infrastructure and ground handling capabilities are also equipped to be able to transport goods throughout the region seamlessly,” explained Mr Lammers. In 2014, SOHAR handled close to 1.4 million freight tonnes of breakbulk cargo, compared to 886,000 tonnes the previous year. In terms of specific breakbulk cargo, infrastructure at SOHAR enabled tenant Larsen & Toubro Heavy Engineering, to supply the world’s largest heat recovery boiler to a Schmidtsche Schack plant in Germany. This project included 10 sets of heat recovery boilers, high pressure steam drums and piping. ENDS Note to editors about SOHAR Port and Freezone SOHAR Port and Freezone is a deep sea port and free zone in the Middle East, situated in the Sultanate of Oman around 200 kilometres northwest of its capital Muscat. With current investments exceeding $15 billion, it is one of the world's largest port and free zone developments and lies at the centre of global trade routes between Europe and Asia. SOHAR provides unequalled access to booming Gulf economies while avoiding the additional costs of passing through the Strait of Hormuz. The existing road network and airport and the future rail system provide direct connectivity to the UAE and Saudi Arabia, as well as to the rest of the world. Equipped with deep-water jetties capable of handling the world’s largest ships, SOHAR has leading global partners that operate its container, dry bulk, liquid and gas terminals including Hutchison Whampoa, C. Steinweg Oman, Oiltanking Odfjell and Svitzer. SOHAR Port and Freezone is managed by Sohar Industrial Port Company (SIPC), a joint venture between the Port of Rotterdam and the Sultanate of Oman.                                                                 www.soharportandfreezone.com Media enquiries Adam Pitt, Senior PR Manager, Zed Communications adam@zed-communications.com +971 56 484 6617 +971 4 250 0336 Joshua Jireh, PR Manager, Zed Communications joshua@zed-communications.com +971 4 250 0336 +971 56 768 1943