Apart from trade with other worldwide countries even the imports and exports the Middle East countries have led to a phenomenal growth and expansion of the transport and logistics industry. To cope up with the intense market demand and also to provide support for the growth of the UAE logistics industry, the UAE shipping industry is raising up to cover important transport and logistics industry services like UAE shipping, freight transport, ports management and materials handling etc .
As per a recent industry survey almost 25% of logistic operators from the region agree in unison that the Middle East has the potential to offer more growth facilities than North or South America specifically for the logistics and transport industry and is great news for the UAE shipping industry. Most of these operators are formulating their business expansion strategies based on the development of their trade routes and infrastructure in the region.
Worldwide industry leaders feel that the Middle East is developing rapidly and that too threefold- locally, regionally and globally, particularly in the transport and logistics sector. Moreover with the increase in global and regional trade between Europe and Asia has further triggered unexpected business opportunities and the UAE has the means to capitalize on this situation. Its strength lies in its strategic geographic location and convenient accessibility.
The Middle East region is the link between East-West intercontinental trades as most of the strategic trade routes pass through this region. The UAE shipping sector is growing at a rapid rate due to the increase in oil revenues and opening up of regional economies to worldwide countries.
Sensing this phenomenon growth the regional ports of the Middle East are being expanded with expansion plans planned up to the next five years. Industry experts feel that the current growth rate which is very rapid at the moment will continue. This growth is prompting foreign businesses to shift their facilities to the UAE All this has turned the UAE shipping industry into a worldwide shipping hub.
If you are into shipping then you can very well avail various shipping services in the UAE like import and export of goods, ship repairing and refueling etc. You would be amazed to know that almost 50% of the international trading fleet passes through the shores of UAE and that too twice a year.
Gradually the UAE shipping industry has become an all encompassing as well as complex industry. Almost about half a billion dollars is being spent annually for procuring ship / vessel building, repairing and servicing materials. On the other hand the UAE-based Hamriyah Free Zone Authority (HFZA), Sharjah, is on the verge of establishing a new maritime city here for the benefit of marine and maritime-related industries.
In fact the maritime service sector looks very promising and this venture is expected to have solid infrastructure as well as excellent facilities.