Bahrain's Khalifa Bin Salman Port raises tariff

Bahrain's General Organisation of Sea Ports (GOP) has approved a minimal increase to the new tariff structure at the new Khalifa Bin Salman Port (KBSP).

The decision was taken during a recent board of directors meeting to review the financial results of 2009, where net profits registered an increase of 33 per cent.

The audited statement indicated that the total income for 2009 increased by 26 per cent to BD10.4 million (Dh101m) while the total net profit increased to BD6.6m. The board took a decision to transfer the surplus to the Ministry of Finance as stipulated in the Legislative Decree No (61) of 2006 with respect to promulgating the Law of the GOP.

The Board evaluated the performance at KBSP over the past 12 months which revealed a significant increase in port productivity and efficiency.

The port's average berth productivity increased by 82.1 per cent while total number of TEU's (twenty-foot equivalent units) handled increased by 13.2 per cent in the first year of port operations.

The Government has invested BD136.3m in KBSP, while APM Terminals has invested an additional BD24m. In light of the huge investment in the new port and to maintain its high efficiency and competitiveness, the board of directors approved a minimal increase to the new tariff structure, which will offer additional services to its users.