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Saudi Maritime Congress to drive FDI and create jobs

Saudi Maritime Congress to drive FDI and create jobs

Event to present update on Kingdom’s rapid seaport infrastructure development and US$ 100 billion 2020 investment in transport and logistics to expand trade and create more jobs for Saudi nationals

Saudi Arabia is experiencing exponential growth in its ports and shipping sectors with a number of mega infrastructural land and sea projects planned and currently in progress, totaling US$ 30 billion within the government’s current five-year plan.

To promote internal and foreign direct investment still further and to support job creation initiatives for Saudi nationals, the first Saudi Maritime Congress has been launched under the patronage of H.E. Jabara bin Eid Al Suraiseri, the Saudi Arabian Minister of Transport and Chairman of Saudi Ports Authority. The National Shipping Company of Saudi Arabia (Bahri), one of the biggest shipping conglomerates in the world is the initiator and strategic partner of The Saudi Maritime Congress.

“The Saudi Ports Authority serves the largest economy in the region, handling 95% of the exports and imports of the Kingdom (excluding crude oil). This represents 61% of the total cargo handled in the GCC states, managing 210 Berths, distributed between nine commercial and industrial ports,” Chris Hayman, Chairman, Seatrade, a global leader in maritime publications, conferences and exhibitions and organiser of the Saudi Maritime Congress.

The two day conference-led event, which will take place at the Sheraton Dammam Hotel & Towers from the 25-26 November 2014, will attract up to 200 delegates. Amongst the participants offering first-hand business intelligence are some of the Kingdom’s foremost stakeholders, decision makers, investors, trade specialists and economists.

There are currently four major Saudi ports. Jeddah, Dammam, Jubail commercial and industrial port and Yanbu industrial and commercial port. However a number of new mega projects are already underway or planned.

According to Bloomberg, these include Jeddah Islamic Port (JIP) which is currently undergoing an expansion project, which will eventually increase capacity by 45%. The Red Sea Gateway Terminal (RSGT) was launched at JIP with the facility receiving its first vessel, with the RSGT project having a 1.8 million twenty-foot equivalent unit (TEU) capacity. The US$ 510 million project has been developed on 400,000 square metres of reclaimed land and has a 740 metre main berth, plus a 390 metre feeder berth.

Other major projects according to arabnewservice.com include, the seaport in phase one of the US$ 26 billion, King Abdullah Economic City (KAEC), which opened earlier this year in January and is designed to become one of the top ten ports in the world. MARAFIQ’s Yanbu Industrial City - Marine Facilities (US$ 210 million) and Saudi Aramco with their Dareen Port Expansion Project (US$ 35 million) which is due to be completed this year.

As the Saudi economy has been progressively opened so too has the variety of domestic and export-oriented investment opportunities. According to the UN World Investment Report 2013, Saudi Arabia’s FDI inflow in 2012 stood at US$12.2 billion, nearly half of the US$26.4 billion FDI recorded for the entire GCC region.

“This inward investment also provides the Saudi government with further means to create new jobs in the maritime, trade and logistics sectors. The unemployment rate for Saudis rose from 10.5% at the end of 2009 to 12.1% at the end of 2012, 30% of which are young men, while the Kingdom employs 8 million foreign workers. The Congress will no doubt address these issues,” added Hayman.

According to the Saudi labour ministry, the economy needs to provide 3 million new jobs for Saudi nationals by 2015 and high birth rates are compounding the situation increasing the number of youths entering the job market every year, with salary expectations, on average, 3.6 times higher than those of foreign workers.

The event will also be complemented by an associated exhibition including leading shipping lines, shippers, cargo owners, forwarders, logistic companies, port terminal operators, port equipment and service suppliers.


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For more information, please contact, Emma Howell, Head of Marketing, Middle East, Seatrade Communications Ltd, ehowell@seatrade-global.com

About Seatrade

Established over 40 years ago, Seatrade is a leader in maritime and cruise publications, conferences and exhibitions, training, awards and other special projects. Regular events include international trade exhibitions and conferences across all maritime sectors, management training courses for shipping professionals, training seminars for travel agents and maritime award schemes, including the prestigious Seatrade Middle East & Indian Subcontinent Awards held in Dubai annually. Seatrade publications include magazines, supplements and yearbooks, while daily maritime news is provided online by seatrade-global.com and seatrade-insider.com.

About the Saudi Port Authority

The Saudi Ports Authority serves the largest economy in the region, handling 95% of the exports and imports of the Kingdom (excluding crude oil). This represents 61% of the total cargo handled in the GCC states, managed through 210 Berths, distributed between nine commercial and industrial ports, respectively, 144 and 66 berths of various type, construction and purpose in the Kingdom.

The Saudi ports are subdivided into a number of independent terminals. There are separate terminals for handling containers, general cargo, frozen and chilled cargo, bulk cargo, Ro-Ro vessels, and livestock and further into terminal operational areas, equipment, warehouses, workshops, and open yards.

This specialization in work has led to increases in productivity and savings in operating costs, whilst providing better services. The Ports Authority has given high priority to mechanization by providing more than 3500 pieces of equipment that allow the ports to handle all types of cargo and offer services to all types of ships.

The SPA manages two ship repair yards namely King Fahd Ship Repair Yard in Jeddah port, and King Fahad Ship Repair Yard in Dammam port and both have attained their position in the field of ship maintenance.

Both yards are fully equipped with the most modern equipment and provide their services at competitive prices. Marine control towers have been built in all ports to the best international standards, to ensure the safest marine navigation.

About Bahri

The National Shipping Company of Saudi Arabia better known today as ‘Bahri’ is listed in Tadawul, the Saudi Arabian Stock Exchange and has grown from a small shipping firm operating multipurpose vessels to become one of the biggest shipping conglomerates in the world. It is the first national carrier and continues to successfully stride the triumphant march in 35 years of its existence serving a strong VIP customer base from offices in Saudi Arabia, USA, United Arab Emirates, Europe and India.

Having started off its operations by transporting General Cargo and containers initially, during the course of its growth and development, the company's services have been expanded to include transportation of Crude Oil, Chemical, Liquefied Petroleum Gas "LPG" and Dry Bulk in partnership with premier organisations: Saudi Aramco, Sabic, Petredec and Arasco.  As part of its diversification strategy Bahri has also recently entered the vibrant Gas and Offshore Marine Services sector.

Bahri’s fleet includes 17 VLCCs, 24 chemical tankers, 6 multipurpose Ro-Ro and 5 Dry Bulk carriers operating in the Red Sea, Arabian Gulf, Indian Subcontinent,  Mediterranean, Austrasia as well as along the US / Canada East Coast in service of respective client needs. The fleet is managed entirely by Bahri’s wholly owned subsidiary Mid-East Ship Management Ltd.

For more information log on to www.bahri.sa.

Media contact
Nathalie Visele
Director
Shamal Marketing Communications
Dubai, United Arab Emirates
Tel: +9714 365 2711
Mob: +971 50 457 6525
E-mail: nathalie@smc-pr.com

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