Oman towage deal awarded

PSA Marine Qalhat, a joint venture between Singapore-headquartered PSA Marine and Oman-based Golden Dunes International (GDI), has won a 10-year contract to provide towage services at the marine terminal of Oman LNG in the Sur area of the sultanate.

PSA Marine Qalhat will deploy four new-built tugs for Oman LNG, which is Oman’s only exporter of LNG.

Rail edge for plastics

RAIL developments in the GCC region are set to accelerate plastics industry growth through increased intra-region petrochemical trade.

Global petrochemical companies will increasingly set up strategic alliances in the GCC, said the Frost & Sullivan white paper on the GCC petrochemical industry.

It is estimated that by 2020 the region’s plastics conversion will grow phenomenally to reach 7.5 million tonnes per annum capacity, up nearly 40 per cent.

GWC makes good profit

GULF Warehousing Company (GWC), a leading 3PL logistics provider in Qatar, registered a net profit of QR140.3 million ($38.4 million) in 2014, up 38 per cent over the previous year.

This was largely attributed to strong revenue streams, with total revenues peaking at QR673.3 million during 2014, an increase from QR527.3 million for 2013.

Earnings per share rose to QR2.95 at the end of 2014, a 38 per cent climb.

Commenting on the results, chairman Sheikh Abdulla Fahad Al-Thani said: “This constant development of our assets as well as seeking to meet our client needs are part of an overarching strategy to ensure that our stakeholders see constant returns on their investment.”

Dry port operator needed

AN operator is being sought to run Oman’s first dry port, a major logistics area in the sultanate’s South Al Batinah Governorate.

A request for Expressions of Interest floated by the South Al Batinah Logistics Area (Sabla) has already begun to bring significant interest from local and international companies.