Kuwait Eyes Ports Growth
The Kuwait government is eyeing for its port sector’s growth as this will boost growth at the Gulf state’s ports, both though spending on the infrastructure projects and boosting imports of containerized goods, reports Customs Today.
Shuwaikh Port is considered the main commercial port in Kuwait. Shuaiba Port is the second major port in Kuwait.
Headline Industry Data forecasts the port of Shuaiba tonnage throughput growth at 10.0% and to average 8.0% to 2019. The port of Shuwaikh container throughput is forecast to grow 1.96% and to average 1.7% to 2018. The total trade growth is expected to grow 2.6% and to average 2.6% to 2019.
The Kuwait Oil Tanker Company (KOTC) took delivery of a new Very Large Crude Carrier (VLCC) in August 2014. The Al-Yarmouk was built at the Daewoo Shipbuilding and Marine Engineering shipyard in South Korea, and has a capacity of 2.2mn barrels of oil, with a deadweight tonnage of 317,000.
In October Kuwait began monthly shipments of 2mn barrels of crude oil to the Egyptian port of Ain Sukhna, on the Red Sea.
