Bin Sulayem outlined a bullish forecast for the industry at today's opening of Seatrade Middle East Maritime, the region's largest exhibition for the shipping sector.
After touring the exhibition, which features more than 200 companies from 30 countries, Bin Sulayem told reporters: "This is truly the golden age of shipping with good rates, not enough ships to meet cargo demand and expanding lines. Dubai ports are also expanding to cope with growth.
"The huge growth in the sector is reflected at Seatrade Middle East Maritime which is now three and a half times the size of last year's show and will see continuous expansion in the years to come.
"This growth is being spurred by external and internal factors. Externally, much of the cargo sector is now experiencing double-digit growth and internally, the huge construction boom which Dubai is witnessing and which in turn has led to an expansion of the services sector, has created huge demand for additional cargo capacity."
During his tour of Seatrade Middle East Maritime, which runs at the Dubai World Trade Centre until Wednesday evening (December 8), Bin Sulayem stopped for briefings on the pavilions representing Iran, Turkey, India, Pakistan and Holland.
Meanwhile, the Seatrade Middle East Maritime conference, which opens today at the DWTC, has attracted more than 330 delegates from 40 countries.
"Over the coming three days delegates will get an in-depth insight into the latest challenges and possible solutions affecting a wide range of shipping issues, from international legislation to energy transportation, from the future of the region's embryonic cruise industry to the expanding SuperYacht market," said Chris Hayman, Managing Director, Seatrade, which organizes the event.
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Dubai benefiting from 'golden age' of shipping, says Bin Sulayem
- United Arab Emirates: Monday, December 06 - 2004 at 14:23
- PRESS RELEASE
The international shipping industry has entered 'a golden age' to which Dubai is contributing and benefiting from external and internal forces, according to Sultan Ahmed Bin Sulayem, Executive Chairman of Dubai Ports, Customs and Free Zone Corporation.
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Seatrade Middle East Maritime, which will now be held every two years, is sponsored by Dubai Maritime City; Dubai Ports Authority; the Government of Dubai Department of Tourism & Commerce Marketing; Gulf Energy Maritime PJSC (GEM); and Islamic Republic of Iran Shipping Lines (IRISL).Other sponsors include Aalborg Industries A/S (Dubai branch); Aqua Group; Arabian Adventures; Bloomberg; British Airways; Bulk Shipping & Trading (Pvt) Ltd; BP Marine; Clyde & Co; Dubai Metals & Commodities Centre; Edmiston; HSBC; Lloyd's Register; Net Cruises; Nico International; Norton Rose; Reuters; Scan-Trans Chartering LLC; and Sharaf Shipping Agency LLC.
Supporters of the event include Dubai Chamber of Commerce & Industry; Dubai Shipping Agents Association; National Association of Freight Logistics; Indian National Shipowners' Association; the Nautical Institute UAE Branch and UAE National Ship Suppliers' Association.
Seatrade, the leading maritime publication, conference, exhibition and training provider, is the holder of Dubai Maritime City License 001, the first to be issued by the integrated stat-of-the-art marine and maritime development being created between Dubai's Port Rashid and Dubai Drydocks in the United Arab Emirates.
Seatrade Middle East Maritime is held under the patronage of His Highness General Sheikh Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister.
Running alongside Seatrade Middle East Maritime 2004 is a SuperYacht Solutions conference and the fourth Seatrade Middle East Cruise Conference. The event also sees a total of 16 cruise lines taking part in a VIP cruise programme hosted by the Department of Tourism and Commerce Marketing, Government of Dubai and facilitated by Arabian Adventures.
For further information: Barbara Saunders, MCS/Action, PO Box 20970, Dubai, United Arab Emirates. Tel: +714 390 2960; fax: +9714 390 8161.
Christine H. Andersen, Assistant News EditorMonday, December 06 - 2004 at 14:23 UAE local time (GMT+4)
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This article was updated on Fri Feb 09 2007.
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