Abu Dhabi to host international summit on sea ports and maritime trade

By bringing together key decision-makers and solutions providers across a series of brainstorming and networking sessions, the summit will offer the latest project updates and the opportunity to influence investment and purchase decisions in the fast-expanding ports and sea trade sector in the Middle East.

“Middle East seaports are expanding vigorously – a total of US$46.5 billion has already been committed to develop the 35 ports in the region. Considering the region’s role as a hub and transit point for global trade and the economic boom in and around the Middle East, such investment strategies are here to stay,” said Tony Douglas, Chief Executive Officer, Abu Dhabi Ports Company.

Seaports in the UAE account for 61 per cent of the GCC trade volume and this share is expected to rise with new capacity being added. The first phase of the Khalifa Port in Abu Dhabi will be complete by the last quarter of 2012, adding two million TEUs (twenty-foot equivalent unit) of container and 12 million tons of general cargo capacity.

Rising costs and the overhanging political instability and piracy in the region will be on sharp focus at the summit. Political commentators, insurers and security chiefs will put these challenges in perspective and explore solutions to ensure safe and efficient maritime trade in the Middle East.

“The sizeable investment being made in ports and supply chains across the region is great news for the industry, given the efficiencies they would bring in terms of capacity, cost and delivery times. The World Ports and Trade Summit has established itself as a premier forum to exchange knowledge and expertise on leveraging such positives for future growth,” said Chris Fountain, Managing Director of Turret Media.

To highlight the industry outlook and latest trends in maritime trade and investment the summit will have three dedicated forums, featuring cargo owners, shipping companies, third-party logistics providers, freight forwarders, port authorities and business consultants.