Khalifa Port plans to add three shipping lines to its portfolio by the end of the year to expand its international network.
The facility, which completed a year in operations on Sunday, already has 18 lines connecting it directly to 50 ports from South-East Asia to North America, including Singapore, Hong Kong, Port Said at Suez Canal, and Tangiers at the Strait of Gibraltar.
In its first year of operations, it has handled 830,110 TEUs (twenty-foot equivalent units) with 78,632 TEUs in August alone.
"I would like to add more lines to connect to northern Europe and Africa," said Martijn Van de Linde, the chief executive of Abu Dhabi Terminals, which manages and operates Khalifa Port Container Terminal.
He expects the network to expand to 75 ports, including those in Rotterdam, Antwerp, South Africa and West and East Africa, in the next year.
The sluggish European economy, however, is expected to affect port operations around the world, he said.
There are no plans to increase berth prices at the port as the global industry faces continuing cost pressures.
"Our prices are 20 per cent below the average price of ports around us," Mr Van de Linde said.
It costs about Dh400 to import a container at Khalifa Port. Construction materials, food and agricultural products, animal feed and hay come into the emirate through the port. While cargo mainly comes from the Mediterranean region, Far East and United States, exports head towards China and northern Europe.
Khalifa Port currently handles about 20 sailings and 20,000 containers a week, which is a 12 per cent year-on-year increase. The volume handled weekly is expected to go up to about 35,000 containers in the next year.
It also services 1,500 lorries every day, with a turnaround time of 15 minutes, placing it on a par with other ports.
Cargo growth is driven by exports such as aluminium, plastic and steel.
"Emal is doubling its capacity from 1 million tonnes to 2 million tonnes and [plastic manufacturer] Borouge has increased capacity to more than 3.5 million tonnes of plastic productionper year, so these industries that export drive a lot of growth," Mr Van de Linde said.
"Volume of cargo handled will grow past 1 million TEUs this year, and touch 2.5 million TEUs in five years for Khalifa Port."
The port has taken over all container services from Mina Zayed, which currently handles bulk cargo such as pipes and cement, and cruise ships.
The civil war in Syria and other regional flashpoints have hit regional trade, while sanctions against Iran have also had an impact.
"Right now established liner movement with Iran has stopped," Mr Van de Linde said.
The global freight market is struggling due to the sluggish economy and the Khalifa Port chief expects it to remain so for the next year.
The port, however, will expand its capacity with three more ship to shore cranes, which move containers between ship and dock, in December, and six more automatic static cranes in October. It currently has six ship to shore cranes, and 30 automatic static cranes.
Under-construction factories, which are designed to be processing manufacturing hubs in Kizad, will also drive the port growth.
In the long run, Khalifa Industrial Zone Abu Dhabi and Khalifa Port are expected to generate 15 per cent of the emirate's non-oil GDP by 2030.
In the first phase, the port has capacity for 2.5 million TEU containers with an ultimate capacity for 15 million TEU containers.
ssahoo@thenational.ae
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Need to know
The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours.
The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.
When to go: You can climb Kili at any time of year, but the best months to ascend are January-February and September-October. Also good are July and August, if you’re tolerant of the colder weather that winter brings.
Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.
OIL PLEDGE
At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Fixtures
Opening day Premier League fixtures for August 9-11
August 9
Liverpool v Norwich 11pm
August 10
West Ham v Man City 3.30pm
Bournemouth v Sheffield Utd 6pm
Burnley v Southampton 6pm
C Palace v Everton 6pm
Leicester v Wolves 6pm
Watford v Brighton 6pm
Tottenham v Aston Villa 8.30pm
August 11
Newcastle v Arsenal 5pm
Man United v Chelsea 7.30pm
Company name: Play:Date
Launched: March 2017 on UAE Mother’s Day
Founder: Shamim Kassibawi
Based: Dubai with operations in the UAE and US
Sector: Tech
Size: 20 employees
Stage of funding: Seed
Investors: Three founders (two silent co-founders) and one venture capital fund
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Abu Dhabi Sustainability Week
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%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2-litre%204-cylinder%20mild%20hybrid%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20S%20tronic%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E265hp%20%2F%20195kW%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20370Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh260%2C000%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20now%3C%2Fp%3E%0A
