Oman’s ports handle over 93.2m tonnes of cargo in 2023
Oman’s top five ports saw a 1.5 percent annual increase in cargo handling in 2023, surpassing 93.2 million tonnes, underscoring their growing significance in maritime trade.
The terminals of Sultan Qaboos, Salalah Sohar and Khasab as well as Shinas, and A’Suwaiq handled approximately 91.8 million tonnes of general, liquid, and bulk cargo in 2022, according to the Oman News Agency. It also highlighted a significant increase in the number of berthed ships in 2023, reaching approximately 11,005 vessels compared to 10,553 watercraft in 2022, marking a 4.3 percent rise. Cruise ship passengers at the Sultan Qaboos, Salalah, and Khasab ports increased considerably. This achievement reflects the government’s collaborative efforts with tourism partners to enhance hospitality traffic to Oman.
The news agency added that the government succeeded in attracting major cruise ship operators to several Omani connection points, including Salalah, Khasab, and Sultan Qaboos ports.
It also reported that in 2023, 229 cruise ships brought 599,000 passengers to Omani terminals, compared to around 87 ocean liners carrying over 205,000 travelers in 2022. This represents an increase of over 190 percent in commuters.
Credit rating
In another report, the news agency noted that economic experts and specialists attribute Oman’s improved credit rating to government efforts to control spending, reduce debt, increase non-oil revenues, and enhance financial performance indicators. Mohammed Abu
Al-Ghassani, chairman of the board of directors of the Oman Development Bank, emphasized that his country’s enhanced credit rating by various international agencies, notably Standard & Poor’s, rising from “BB” with a positive outlook in March 2023 to “BB+” with a positive outlook in March 2024, underscores the government’s commitment to optimizing spending, increasing state revenues, and persistently reducing public debts, particularly those with high costs.
Trade balance
According to preliminary statistics released by the National Center for Statistics and Information, Oman’s trade balance showed a surplus of 877 million rials (nearly $2,280 billion) by the end of January 2024, compared to a surplus of 686 million rials during the same period in 2023.