The total tonnage handled by the major ports in Saudi Arabia fell by 11.4% in the first quarter, compared to the same period a year earlier. Imports were down by 34.7%, while exports fell by 1.44%. The poor figure is being replicated worldwide, as overcapacity, lowering volumes and low freight rates combine to hurt trades.
The King Fahad Industrial Port in Yanbu was the only facility in the Kingdom to see growth (of 11.4%), while the King Fahad Industrial Port in Jubail came in at just below the positive margin.
Faring a little more disappointingly were the Jeddah Islamic Port (the country’s biggest), with a -31.5% figure, while the King Abdulaziz Port in Dammam saw tonnage drop by a quarter.
Container volumes at Jeddah dropped by 16.8%, with national container volumes down by 11.4%.
The King Fahad Industrial Port in Yanbu was the only facility in the Kingdom to see growth (of 11.4%), while the King Fahad Industrial Port in Jubail came in at just below the positive margin.
Faring a little more disappointingly were the Jeddah Islamic Port (the country’s biggest), with a -31.5% figure, while the King Abdulaziz Port in Dammam saw tonnage drop by a quarter.
Container volumes at Jeddah dropped by 16.8%, with national container volumes down by 11.4%.