The transport and logistics market in the Middle East – encompassing ground transport, air/sea freight, freight forwarding, warehousing, and supply chain management – has witnessed double digit growth in recent years, according to a new report by Booz & Company, a global management consulting firm.
The report cites that despite the economic crisis, Middle East logistics and transportation market to hit US$ 27 billion by 2012
Ground transport, air and sea freight will likely grow at approximately 7 per cent Compound Annual Growth Rate (CAGR). Logistics services which comprise warehousing, contract logistics, and freight forwarding, will have a substantially higher annual growth rate of more than 10 per cent.
The report says that the current economic crisis is expected to have a moderate impact on profit margins across most segments but the long term profitability outlook remains positive. The question facing the logistics sector therefore is how to master the challenges ahead and benefit from the long term growth prospects.
Riding the wave of such potential growth, TransOman, the inaugural event for the transport, shipping and logistics sector, organised by Oman International Trade and Exhibitions (OITE) under the auspices of the Ministry of Transport and Communications, is set to boost the country’s logistics element, from October 13 to 15 at the Oman International Exhibition Centre. A Conference on Transportation, Innovation and Challenges will be held from 14th to 15th alongside the exhibition at the Golden Tulip Hotel in Seeb, Muscat.
There is also a TransOman Advisory Committee, chaired by Warith Al Kharusi, which is meeting regularly to ensure that the upcoming expo and conference will provide an excellent integrated platform for the air, sea, sea and land transport sector. The TransOman Advisory Committee was formed to provide advice and recommendations with respect to the quality and value of the exhibition and conference programs based on the current trends and key issues that the sector needs to address.
“Over the years, Oman’s logistics is witnessing various activities as a logistics hub. With TransOman, we wish to highlight such growth and hope that we will be able to lift the logistics discipline in Oman and maximise on its growth potential in the upcoming years”, said Al Kharusi.
Industry players who have shown their support at the inaugural show include the Sohar Industrial Port Company SAOC, Bahwan - Wagenborg, Gulf Agency Company (Oman) LLC, Al Madina Logistics Services Co., Oman Air Cargo, DHL Global Forwarding, Oman Integrated Logistics Services SAOC, Falcon Air Services & Transport Co LLC, lnchcape Shipping Services, Ceva Logistics LLC, Middle East Shipping & Transport Company LLC, Deugro, Arshiya Logistics and DET Norske Veritas amongst others.
For more information on TransOman Expo and Conference, log on to www.trans-oman.com.
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