Oman: Mineral exports boost Salalah Port's general cargo volumes in 2024
MUSCAT: Port of Salalah, one of the world's largest transshipment ports, has recorded a 10 per cent rise in general cargo volumes handled during 2024, underscoring the gateway increasingly prominent role as a maritime logistics hub for burgeoning minerals, petrochemicals and petroleum refining activities in southern Oman.
General cargo throughput climbed to 22.6 million tonnes in 2024, up from 20.6 million tonnes during the previous year. The growth was mainly fuelled by an increase in limestone, gypsum and other dry bulk volumes.
Commenting on the outlook for the General Cargo Terminal's performance, Braik Musallam al Amri, Chairman of the Board of Directors, Salalah Port Services Co SAOG, said: 'General cargo volumes are projected to remain steady, with dry bulk commodities — particularly limestone and gypsum — continuing to be key drivers. Demand from India and Southeast Asia's construction and manufacturing sectors is expected to sustain strong exports. Despite global economic fluctuations and freight rate volatility, these sectors are relatively resilient to short-term demand shocks.
Additional growth is anticipated in break bulk cargo, alongside continued expansion in the liquid bulk segment. As a result, total cargo volumes are expected to surpass 2024 levels by the end of the year,' he added in the Directors' Report of the company's financial performance for 2024.
Container volumes, on the other hand, dipped to 3.3 million TEUs, down from 3.8 million TEUs in 2023, said al Amri. He noted however that continuing uncertainty over safe maritime shipping in the Red Sea may impact Salalah Port's container throughput in 2025.
'While the geopolitical situation in the Middle East has shown signs of improvement and the likelihood of the Red Sea reopening has increased, there is no immediate indication of this happening,' he stated.
But boding well for container volumes growth, the Chairman pointed out, was the recent completion of a major upgrade of the Container Terminal, which will be fully prepared to accommodate the Gemini Network, a global vessel-sharing agreement between Maersk and Hapag-Lloyd. This investment is set to enhance Salalah's role as a 'strategic transshipment hub', he added.
Port of Salalah recorded consolidated revenue from operations of RO 70 million in 2024, representing a 2 per cent increase over corresponding figures for 2023. Consolidated EBITDA amounted to RO 15.6 million, which corresponds to an EBITDA margin of 22 per cent. This compares to RO 13.3 million, a margin of 19 per cent in 2023. Consolidated Net Profit was recorded at RO 2.3 million, as compared to RO 2.8 million during the corresponding period last year.
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