Khalifa Bin Salman Port (KBSP), Bahrain’s only commercial port and one of the most efficient ports in the region, is celebrating 10 years of successful operations, as it continues to facilitate economic diversification in line with Bahrain's 2030 economic vision.
Transforming Bahrain's maritime sector with increasing investments and transformations in port operations and logistical solutions, KBSP has been contributing significantly to boost the kingdom's maritime trade business and industrial sectors, said a statement.
The port's decade of achievements was marked today at a high-level event under the patronage of Engineer Kamal bin Ahmed Mohammed, Minister of Transportation and Telecommunications, attended by senior executives from APM Terminals Bahrain and Global, the maritime business community and Government stakeholders, who celebrated the success of this public-private partnership.
Over the past 10 years, KBSP has witnessed stable growth across its various operations including container volumes which have grown by 54 per cent, RORO traffic by 27 per cent, general and bulk cargo by 87 per cent, and served over 10,000 vessels which includes 357 cruise vessel calls that have collectively brought 721,343 visitors to Bahrain.
With a 123 per cent increase in the total import TEUs and 117 per cent in total export TEUs, the port's annual throughput in 2018 was 432,432 TEU, which is 54 per cent higher than the throughput recorded in its first full year of operations. The port has also been a platform to invest and cultivate Bahrain’s future ports, maritime and logistics workforce with 64 per cent of the workforce being Bahraini nationals.
KBSP today plays a pivotal role as a regional transportation hub, serving both the kingdom and the wider region such as the eastern province of Saudi Arabia and the Northern Arabian Gulf; and has also set technological benchmarks in digitalising and streamlining logistics and port services.
On December 9, 2018, APM Terminals Bahrain converted into a listed company and got listed on Bahrain Bourse with 700+ shareholders, offering Bahrain’s community an opportunity to invest in one of the Kingdom's national assets. The share price has almost doubled since listing and has outperformed the benchmark Bahrain Bourse index as well as the S&P GCC index. Additionally, it has distributed an impressive dividend of 16.5 per cent of the offer price to the shareholders in 2019 soon after listing.
Engineer Kamal bin Ahmed Mohammed, Minister of Transportation and Telecommunications, said: “We are very proud today to celebrate 10 years of success with our partners at APM Terminals. Khalifa Bin Salman Port has significantly improved efficiencies of the port and maritime industry, and with 90 per cent of goods coming through the port, it is an invaluable part of Bahrain's logistics' industry infrastructure.”
“Over the past 10 years, we have seen major improvements in safety and security, productivity and growth and we look forward to capitalising on this further into the future,” he added.
With digital transformation as one of the core focus areas for KBSP, the port's continuous growth in the last ten years can also be attributed to evolving its operations to cater to future-growth industries and customer requirements. APM Terminals Bahrain, operators of the port, and the Ministry of Transportation and Telecommunications’ Ports and Maritime Affairs have been working closely with the various Government agencies including the Bahrain Economic Development Board and Ministry of Interior’s Customs Affairs to facilitate more investments into the country, by offering attractive supply chain solutions and a business-friendly environment.
Susan Hunter, CEO/managing director, APM Terminals Bahrain, said: “As we celebrate a decade of partnership and growth, we're proud to be a part of KBSP's success story of transforming the nation’s maritime and logistics sector and contributing to Bahrain's economic and its people’s future.”
“Working as partners and idea generators with the government entities and various business sectors, we continue to grow KBSP as a major regional hub for trade and transportation, enhance access to key markets such as Saudi Arabia, and the northern Gulf to provide a wide-range of world-class marine services to all vessels calling at the port. We would like to thank our stakeholders along with our maritime and trade customers for partnering with us on our journey, helping KBSP become an internationally-renowned model for excellence in port operations and logistical services,” Hunter added.
At the event celebrating the ten year anniversary, the Ministry of Transportation and Telecommunications honoured five former senior executives who played a pivotal role in KBSP’s establishment: Shaikh Ahmed bin Mohammed Al Khalifa, auditor-general of the National Audit Office; Eid Abdulla Yousif, former deputy chairman of the General Organisation of Sea Ports, Ebrahim Salman Al Hassar, former director general of the General Organisation of Sea Ports, Shaikh Daij bin Salman Al Khalifa, chairman of Alba, and Hassan Ali AlMajed, former undersecretary for Port and Maritime Affairs at the Ministry of Transportation and Telecommunications.
The event featured a photo exhibition with photographs taken by local photography community FotoBH, as well as photos showing the timeline of KBSP’s major milestones over the past 10 years.
The port is ready for the next phase of development as APM Terminals Bahrain and the Ports and Maritime Affairs are working closely to optimise operational efficiencies within the port and the Government authorities to satisfy future demand and the potential for volume-growth.
This includes tailored supply-chain solutions services to landside customers, introducing digital solutions such as online access control, e-payment solutions, and vessel traffic management system, attracting international cruise lines, and creating a seamless supply chain for project cargo imports for various industrial projects streamlined by the Ministry of Transportation and Telecommunications’ Ports and Maritime Affairs and other Government authorities. – TradeArabia News Service