GES Gross Revenue Up 27% in 2013

MarineLink.com
Tuesday, February 18, 2014
Mr. Mustapha Kawam

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 percent 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.”

 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Matson Announces Quarterly Dividend

Matson, Inc. declared a first quarter dividend of $0.17 per common share, the company’s board of directors announced. The dividend will be paid on March 5, 2015

Hogan Named VP at Newport News Shipbuilding

Rob Hogan has been appointed vice president of manufacturing at the Newport News Shipbuilding division of Huntington Ingalls Industries (HII), the company announced.

Kongsberg Expands Louisiana Office, Training Facility

Kongsberg Maritime has purchased approximately 5.2 acres for new construction on an 82,980 sq ft office and training facility. Construction on the James Business

Finance

Matson Announces Quarterly Dividend

Matson, Inc. declared a first quarter dividend of $0.17 per common share, the company’s board of directors announced. The dividend will be paid on March 5, 2015

Kirby Reports Record Earnings

Kirby Corporation announced record net earnings of $68.1 million, or $1.19 per share, for the fourth quarter 2014 (ended December 31). The results bested 2013’s fourth quarter figures of $64.

Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three

Government Update

Bill Proposed to Repay WWII Merchant Mariners

Congresswoman Janice Hahn (Calif.) and Congressman John Duncan Jr. (Tenn.) introduced the “Honoring Our WWII Merchant Mariners Act of 2015,” which would provide

Dozens Missing off Bangladesh after Boat Sinks

About 40 illegal migrants heading from Bangladesh to Malaysia to look for work were missing on Thursday after their boat sank, police said. A steady stream of

Shell: UK Should Reduce North Sea Oil Tax

The British government should review a supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic, Shell Chief

Logistics

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

China Watching Greece After Port Sale Shelved

China is closely monitoring the policies of the new Greek government after Athens said this week it will stop the sale of a majority stake in Greece's biggest port,

Shell Eyes Arctic Drilling this Summer

Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high.

 
 
Maritime Security Naval Architecture Navigation Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1978 sec (5 req/sec)