Gulftainer, a privately-owned enterprise, headquartered in the UAE, has established itself for over 40 years as a leading regional and international port operator with active roles in countries throughout the middle east and the Americas, including three facilities in Umm Qasr port in Iraq.
Part of the Gulftainer Group, Momentum Logistics provides third-party logistics services to clients; including transportation, customs clearance, warehousing, logistics cities, container services and contract logistics. (69)
Gulftainer operates three facilities in Iraq; two container terminals, the Iraq Project Terminal (IPT) and the Iraq Container Terminal (ICT) and the Umm Qasr Logistics Centre (UQLC), managed by Gulftainer’s third party logistics arm, Momentum Logistics. Momentum has operations across the country, from Zakho in the north to Umm Qasr in the south as well as support staff in Erbil and Basrah.
Following an agreement on oil output cuts by OPEC members, Iraq’s GDP growth is expected to finish 2017 at 3.4%. A relatively small number compared to the country’s growth in recent years, but still reflects a strong growth in the region. In the transportation sector, the growth has been evident by the double-digit container volume growth in Iraq. Container volumes at Gulftainer’s terminals at Umm Qasr alone increased by 13% YoY- A growth unheard of in the middle east region this year. Gulftainer has been able to achieve this growth by attracting new shipping lines to its facilities enabling them to serve the Iraqi market and increase their market share.
The recovery of global oil prices, increased oil exports, reduced government expenditure and increased security are expected to support a positive outlook in 2018. Planned development of the southern oil fields and boosting the non-oil economy are expected to raise the GDP growth rate to 4.2% in 2018. At Gulftainer, we are cautiously optimistic about the market, and are continuing to review new opportunities for growth in 2018.
For more information please visit: http://www.gulftainer.com/