August 16, 2019: Panalpina is establishing its presence in Oman by opening an office by the end of the third quarter in 2019. Panalpina has recently completed the registration of Panalpina Oman with a minority shareholding partner - the Daoud Group, a family-owned Omani business conglomerate
The freight forwarder is leveraging its long-standing experience in project solutions and the energy sector to support the country’s burgeoning economic and infrastructural growth.
The capital of Muscat has distinct advantages as a transhipment hub for Qatar, as Charles Francis, Panalpina’s country manager for Qatar, Kuwait and Oman, explained, “Oman has become a pivotal geographical location for cargo flows to and from Qatar. Unlike some of the Gulf Cooperation Council (GCC) countries, Oman has not introduced economic sanctions and its trade with Qatar has increased by more than three times since the embargo started two years ago.”
Oman produces about 900,000 barrels of oil per day, which account for about four-fifths of government revenue. While oil and gas dominate exports, Oman also derives earnings from the export of dates and from tourism. Its major imports include motor vehicles, technical equipment, computer hardware and software, consumer products, textiles and foodstuffs.
The government is aiming to diversify the economy and is focusing on agriculture, fisheries, tourism, mining, public utilities and manufacturing. Together with a growing number of large infrastructure projects and its transhipment hub for Qatar, Oman is fast becoming the latest business hotspot within the Middle East region.
Panalpina’s operations in Oman were previously handled by an agent. Panalpina Oman will now cover core activities such as air freight, ocean freight and customs clearance.