INP-WealthPk

Smart ports to boost revenue, outshine other competitors

May 17, 2023

Saba Javed

Pakistan is in dire need of enhanced cargo transhipment, which could only be possible through the smart ports. Once it gets started, it will surely outshine the UAE and other regional ports due to the country’s strategic location,” said Shariq Amin Farooqui, Manager of Public Relations at the Karachi Port Trust. Talking to WealthPK, he said, “Cargo transhipment will get a boost through the smart ports, as it enables more cargo handling in less time. However, there are certain other things that go along and are more important, like accurate electronic document transfer, quick port berthing to reduce ship turnover times, convenient and comprehensive logistics and customs procedures, transparent information integration on a single platform and the use of big data to arrange container transport.”

He said electronic documentation already exists at the ports and even the Customs Department uses the Web Based One Customs (WEBOC) system, which is well connected with the ports offering one-window operations to the port users. “The real issue is handling the transhipment cargo which Pakistan is not presently doing. Dubai port is ahead of us due to the transhipment of cargo. This is the only thing that makes the difference. Once it starts in Pakistan, it will surely wipe out the UAE and other regional ports due to the strategic location of Pakistan. The world can gain access to Central Asian countries through Pakistan’s ports which can handle all their cargo. One can even imagine a port servicing so many Central Asian countries and generating hefty revenues for the national exchequer.”

Gwadar port has the potential to be a regional hub and transhipment port and can achieve its position among the leading five transhipment hubs worldwide by altering the ship traffic flow from Dubai to Gwadar. Every year, Dubai handles around 21mn TEUs (20-ton equivalent units) of cargo. This indicates the prospects that can lie in wait for Gwadar. Amin told WealthPK that in addition to efficiency improvements, smart ports could generate revenues by providing value-added services to customers. For example, by offering real-time cargo track and trace services, the ports can help shippers optimize their supply chain and improve inventory management, creating a competitive advantage for the port. Furthermore, smart ports can improve safety and security by using advanced technologies such as video analytics and biometrics to monitor the port and prevent security breaches. This, in turn, can help reduce insurance costs and increase customer confidence in the port’s security measures.

Credit: Independent News Pakistan-WealthPk