A.P. Moller- Maersk’s support to Oman Vision 2040, which aims to transform Oman into a competitive economy, is demonstrated by the company’s recent growth of its robust ecosystem of integrated logistics solutions in Sohar port and freezone. Since 2022, new investments worth more than US$366m have already been made at Sohar; one of the largest industrial and logistic projects in the Sultanate. Direct access to the Kingdom of Saudi Arabia, one of the largest markets in the GCC, is made possible by the existing transportation network that connects the port and freezone to surrounding markets, including the UAE. In the Sultanate, Sohar serves as the primary entry point for imports and exports, handling around 24% of all imports. Additionally, in 2022, these exports and re-exports accounted for nearly 47% and 29% of all goods exported, respectively. In light of this evaluation, Maersk has decided to offer a variety of services that include landside transportation, cross-border cargo movement, customs clearances, warehousing and distribution, cold chain logistics, and air freight, thereby increasing efficiency for its clients and removing unforeseen costs.
Christopher Cook, Managing Director, Maersk UAE, Oman, and Qatar, stated that, “Oman is a significant market for us where we are committed to serving our important customers by bringing world-class integrated logistics solutions closer to them. Our ambition is to simplify the supply chains, make them efficient and transparent, and thus contribute towards the Oman Vision 2040 that aims at making Oman a competitive economy.”
Furthermore, SOHAR port and freezone announced impressive growth in all key areas in its 2022 results. Throughput climbed by 11.3% year on year, reaching 77m tonnes in 2022. Dry and liquid bulk volumes grew by 9.6% and 25%, respectively. Vessel calls increased slightly to 3,192, while containers remained stable at 725,000 TEU. As the company continues to place a strong emphasis on supply chain optimisation and logistics, Maersk believes that its new office in Sohar will allow it to further streamline operations and solidify its position as a smart logistics hub.
The new office at the SOHAR Freezone marks a continuation of Maersk’s growth strategy in the region. In December 2022, the company partnered with the Port of Salalah to launch a new multimodal transport solution to Al-Mazyunah Free Zone. Investments of this type at one of the leading logistics hubs provides Maersk with plenty of growth opportunities in the Middle East and North Africa region.
Author: Transport Intelligence