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Globe Express Services’ Kuwait office reports 19.5 per cent increase in gross revenue for H1 2014

Continued growth of country’s construction sector complements the company’s long-term growth plans

 
PRLog - Jul. 15, 2014 - July 15, 2014

Globe Express Services (GES), one of the world’s top 100 global logistics providers, has announced that its H1 2014 gross revenue for the Kuwait office has increased by 19.5 per cent--driven by the government’s proactive approach in the development of large-scale infrastructure and logistics projects. In addition, the remarkable progress in the country’s planned infrastructure projects, including the USD 1.2 billion Mubarak Al Kabir (MAK) Port on Boubyan Island and a 36-km causeway linking Shuwaikh Port with Bouyan Island, complements the company’s long-term growth plans in Kuwait.

With the establishment of an integrated industrial and logistic zone around the Kuwait Free Trade Zone (KFTZ) located in Shuwaikh near the capital, Kuwait is well positioned to emerge as one of the leading transport and logistics hubs in the Middle East. KFTZ is situated at a distance of less than 10 minutes from Shuwaikh Port and Kuwait International Airport (KIA), providing a viable option for ship-to-air consignments from Asian countries to Europe and the Americas.

Meanwhile, tonnage at the port of Shuaiba, one of the two main ports in Kuwait, which increased by 4% last year (2013), is expected to increase to an annual growth rate of 5.3% by 2017, while air freight tonnage forecast which increased by 1.8% in 2013, reached a 1.4% annual growth by 2017.

Mustapha Kawam, Managing Director-Gulf States of GES, said: “There is no doubt that the government’s aggressive investment plans to upgrade its transport and logistics facilities has made Kuwait a lucrative logistics hub. All these developments support GES’s growth strategy for the country where it has already reported a 19.5 per cent increase in its total revenue for H1 2014. We are upbeat that our innovative supply chain solutions will be a game changer in the local market and enable us to emerge as the key driver for the logistics sector and further consolidate our position in Kuwait.”

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