Salalah Port has announced that recovery efforts aimed at restoring the capacity of its Container Terminal, which suffered significant damage when Cyclone Mekunu struck Salalah during May 2018, have been substantially completed.
As a result of these efforts, which had continued during the second quarter of this year, terminal capacity has been significantly restored to pre-cyclone levels, the port said in initial, unaudited and unapproved financial results announced for the six months ended on June 30, 2019.
Restoration efforts targeting the General Cargo Terminal were completed during Q1 of this year, it said.
“The restoration works relating to other port facilities are still ongoing,” said C S Venkiteswaran, Chief Financial Officer — Salalah Port Services SAOG. “The cyclone expenses amounting to RO 2,210K incurred during January-June 2019 are included under total expenses. The insurance claim settlement is ongoing,” he stated.
The cyclone claims had led insurers to demand higher premium rates for the renewal of the port policy on April 1, 2019. A higher premium of RO 1,730K per annum was charged, he said.
Meanwhile, containers handled at the port during the first six months of this year increased 10 per cent to 1,941K TEUs, up from 1,763K TEUs during the corresponding period of 2018.
General cargo throughput rose 8 per cent to 8.191 million tonnes this year, up from 7.595 million tonnes during the first half of last year.
Net revenue climbed 20 per cent to RO 33.279 million this year, up from RO 27.634 million during the corresponding period of 2018. Net profit after tax soared 183 per cent to RO 2.169K this year, up from RO 0.767 million for the first half of 2018.