News Column

Net profit of Port Services rises 6.6 per cent

August 3, 2014

Times News Service

Muscat: The Port Sultan Qaboos (PSQ) has achieved a 6.6 per cent growth in net profit for the first half of 2014 at OMR3.88 million, over the same period of last year.

The port witnessed a 2.8 per cent growth in number of vessel calls at 745, mainly driven by an increase in conventional vessels carrying cargo for various ongoing projects and container vessels.

In addition, 641 vessels called at anchorage for non-commercial reasons as compared to 758 last year. The growth in economic activities in Oman has resulted in the increase in the volume of imported cargo by 7.3 per cent over last year. The number of containers handled was marginally lower by 0.2 per cent as a result of the Government's plan of shifting container and commercial operations out of PSQ to Sohar Industrial Port. The volume of exports registered rose by 5.5 per cent.

The total number of vehicles imported was substantially higher by 52.6 per cent compared to last year as a result of significant stock piling by the local importers. 

PSC's turnover has been marginally higher by 1.6 per cent at OMR11.83 million compared to last year as a result of increase in imports, higher volumes of vehicles imported and increased exports.

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Source: Times of Oman

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