By Pratap John/Chief Business Reporter
Tonnage throughput through Doha Port has been forecast to grow by 36% this year and average 24.5% until 2019, BMI Research has said in a report.
Air freight tonnes at Hamad International Airport may grow by 4% this year and average 4.7% until 2019, BMI Research said.
But freight trade, BMI said may decline 1.7% this year in view of the lower petroleum prices. The trade decline until 2019 may average 4.8%, it said.
According to BMI the Qatari shipping sector continued to be dominated by the export of the country’s key commodity, natural gas, through the export terminal of Ras Laffan. Much of this is transported by national carrier Nakilat.
However, the country aims to increase its container and dry bulk shipping presence as well through the development of the New Doha port, which is being developed to focus on capturing some “lucrative” transhipment trade. The country is not only investing in its ports. There are also significant developments in road and rail, not least the Gulf Co-operation Council (GCC) rail network and the causeway that will link Qatar with Bahrain.
“We forecast moderate growth in trade and port throughput in Qatar over the medium term. Air freight is also taking off, supported by the growth of Qatar Airways Cargo and a new terminal,” BMI said.
Qatar Airways Cargo’s India focus continues with the company launching a new weekly freighter service between the airline’s hubs in Doha and Delhi in May 2014. The Indian air freight market is rapidly expanding, with pharmaceuticals a major driver - a sector which Qatar Airways Cargo is increasing its exposure through its QR Pharma division.
The awarding of two major road contracts in Qatar reinforces BMI’s views that transport will be the major focus of infrastructure investment over the next few years and that the road sector will register a period of growth.
The new contracts, worth over QR10.4bn ($2.8bn), are for the New Orbital Highway and Truck Route, which aims to cut congestion in Doha by looping around the city, enabling heavy vehicles travelling from the New Doha Port to the Ras Laffan industrial area to bypass urban areas. This will boost road haulage volumes from the facility also.
The new Hamad International Airport (HIA) will help Qatar’s rapidly expanding air freight sector. HIA will benefit from Qatar Airways, and its freight-handling wing Qatar Airways Cargo (QAC), as the airline has previously played a role in growing air freight volumes at its facility at Doha International.
“We believe HIA will help continue to drive Qatar’s air freight sector growth in what is a highly competitive regional air freight sector and thereby fend off competition from rivals,” BMI Research said.
