In Saudi Vision 2030, the Kingdom of Saudi Arabia (KSA) is expected to transform into global logistics hub in the region linking trade across three continents: Asia, Europe, and Africa. To achieve this expectation, the Saudi Ministry of Transport (MoT) has outlined the future transport including the maritime sector in its ‘National Transport and Logistics Strategy (NTLS)’ document and is set to expand the port infrastructural facilities with a target of handling 41m TEUs (Twenty-Foot Equivalent Unit) to become a regional leader in the port sector by 2030, which will eventually have a huge impact on Saudi oil demand. Accordingly, the project’s aim is to forecast the future oil demand for Saudi ports due to the introduction of MoT’s infrastructural expansion plans as well as its cargo handling target. This project will also estimate the oil demand changes between with and without implementing the NTLS plans in the port sector.
The maritime sector is a key pillar for the diversification of the Kingdom of Saudi…25th May 2022