Middle East logistics conclave a big hit

Manama : ME-Logistics-2017, organized by Poorna Corp., largely attended by the professionals from airline, logistics companies and from the shipping industry, was a good treat with overwhelming response.

With the inaugural speech delivered by Yousif Isa Bubshait, Assistant Under Secretary, Ministry of Transportation and Telecommunications, the session started on the topic, ‘Improvement on Infrastructure Capability and Investment’ with an elaborate presentation by Arno Storm, COO of APM Terminals. 

In his presentation, he said that The APM Terminals Global Terminal Network is the world’s most geographically balanced port and terminal network, with facilities operating on every major trade lane and in everymajor market. Global container fleet overcapacity as new vessels continue to be added into service as scrapping levels slow, consolidation of smaller lines to compete with the industry giants in economies of scale, port congestion caused by higher trade volumes as well as larger vessel size, freight rate instability and downward pressure on rates in an effort to fill larger vessels, rapidly increasing top vessel sizes from EEE-Class 18,270, to China Shipping’s 19,100 to MSC’s 19,224 TEU capacities in 2014. OOCL has six 21,100 TEU capacity vessels scheduled for delivery in 2017, and vessels as large as 24,000 TEU capacities reportedly under design consideration. Liner service vessel speeds are now increasing from the current 22 knots, effected in response to higher fuel prices, as oil prices continue to fall, were the key constrained, he show cased.

The Maersk Madrid, the first of 11 second-generation Triple E Class vessels, with a capacity of 20,568 TEUs was delivered in April 2017.

The other speakers - representing the BCCI, BSAA, GAC, Bahrain Air Transport actively took part in the session.

Statistical presentation by the Gulf Air Director – Sales and Marketing, Yhya Ali Buali, about the Gulf Air fast facts, Network, Cargo Partners, Air fleet which would commence delivery from Q2 2018, providing Gulf Air  with expansion capabilities for its future network and capacity requirements, ensuring it maintains one of the youngest fleets in the region while building upon its award-winning reliability and on time performance, was really commendable. Whilst revealing that the two aviation infrastructure assets are growing in support of the Kingdom’s future development and long term needs, Falcon Cargo Products and its growth projections – would double its capacity and performance by to 199,770 tons, by the year2020! The cynosure of the event was the presentation given by Philippe Norre, Bahrain Tax and Corporate Services Partner of KPMG, who revealed that the new Value Added Tax (VAT) is unlikely to be introduced until June 2018, to the entire Gulf countries - including Bahrain.