Massive economic growth is driving the more than $US33bn in port expansion in the Middle East. The region’s optimism in the maritime industry is founded on increasing demand for oil and gas worldwide, the vital role the region plays as a strategic trading hub as the link between Europe and Asia, and the continuing strength and vibrancy of regional economies. According to data on new port developments or expansions from research company Proleads, there are currently around 50 such projects valued at more than $US33bn across the Middle East with individual budgets ranging up to $US10bn.

Huge Capacity Growth. The region is already home to one of the world’s largest container ports, Dubai’s Jebel Ali, which currently handles around 11m TEUs a year. If growth continues at the same pace as today, Jebel Ali expects to increase capacity to 80m TEUs by 2030. The biggest new seaport planned is Qatar’s New Mesaieed Port ($US5.5bn), followed by King Abdullah Economic City Seaport, Saudi Arabia ($US5bn); Khalifa Port and Industrial Zone, Abu Dhabi ($US2.5bn) and Sirte Port, Libya ($US2bn).

Global Reach Increasing. The region’s port operators are continuing to expand their influence world-wide too. Dubai’s DP World, the fourth largest port and terminal operator in the world, is expanding operations across the Indian subcontinent, Far East, Europe, the Americas, Aust, as well as the Middle East. DP World handled more than 43.3m TEUs across its portfolio of 42 terminals in 22 countries in 2007, an increase of 18% over the previous year.

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