Asia-Pacific has the highest share of global port construction projects with a total of $165.1bn, according to a new report.
Timetric’s Construction Intelligence Center new report, Port Construction Projects: Global, shows that 36% of the total global value of port projects belongs to the Asia-Pacific region.
Asia Pacific is then followed by the Middle East and Africa with $145.2bn, the Americas with $98.2bn and Europe with a project pipeline of $50.4bn.
The highest value of projects is at the execution stage, with $187.2bn, while those in planning have a combined value of $173.0bn. Projects in the pre-execution stage amount to $53.8bn, while those at the pre-planning stage (announced and study) are valued at $43.8bn.
India has the highest value of port construction projects, according to the pipeline tracked by the CIC, with $50.9bn, followed by Australia with $29.3bn. The UAE and Indonesia follow with project pipelines with values of $29.1bn and $27.3bn respectively.
In the Americas, Brazil leads with projects totaling $27.2bn — even though the highest value project in the region is the $10bn Louisiana International Gulf Transfer Terminal in the US.
The report also states that the UAE dominates investment in ports in the Middle East and Africa region, with a value of $29.1bn — and has the highest-value project, the $24bn Khalifa Port and Industrial Zone. Tanzania follows with $13.6bn.
Russia leads Europe for ports investment with $22.5bn, and accounts for the two highest-valued projects: the $7.14bn Taman Sea Port Terminal Development, and the $6.3bn Zvezda DSME Shipyard Reconstruction.
Neil Martin, manager at Timetric’s CIC, said: “Asia-Pacific with its vibrant economy and developing markets leads investment in port construction projects with India and Australia investing in high value projects to enhance their overseas trade.
“The Middle East and Africa is investing substantially in port construction with the busiest port in the Middle East, Jebel Ali in the UAE, undergoing expansion and the Khalifa Industrial Zone in Abu Dhabi registering huge investment of $24bn in a 100 sq km port and industrial development to boost the economy.”
* For more information on the Port Construction Projects: Global, visit the Construction Intelligence Center Report Store.
* Jebel Ali port pictured. Image credit: GagliardiImages/Shutterstock.com