GAC Jordan Reports 55% increase in Aqaba Port RoRo volumes during 1st half of 2009

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GAC Jordan, the exclusive shipping agent in Jordan for Eukor Car Carriers — one of the world’s leading shipping companies specialized in exporting Korean cars around the world— has issued an internal report revealing a 55% increase in RoRo cargo arriving in Aqaba during the first half of 2009 in comparison to last year. The report also expects an annual comparative increase of 20% compared to 2008.

The half year report issued by GAC Jordan, a member of the GAC Group and a leader in shipping and logistics services, revealed that during the first half of 2009, 54,000 cars arrived in Aqaba in comparison to 35,000 during the same period in 2008. On the other hand the yearly figure for 2008 of 90,000 units indicates an estimated yearly increase of 20% in 2009. The report also revealed that Eukor Lines obtained the highest market share at 31%, compared to other world-leading shipping lines operating through Aqaba.

Mr. Ghassoub Kawar, Managing Director at GAC Jordan, stated, “Between January and June 2009, we witnessed a consistent growth in RoRo cargo entering Aqaba compared to the same time last year. This growth is due to Jordan’s and Iraq’s high demand on new Korean cars and used cars, in addition to increased demand on American hybrid cars”.

Mr. Fadi Nasser, Assistant Managing Director added, “According to our statistics we witnessed a 53% decline in volumes arriving from Europe over the first half of the year, whilst Far East volumes and USA volumes increased by 89 percent and 263 percent respectively.” Nasser believes that the figures would be less dramatic when making whole year comparisons because last quarter of 2008 showed substantial increases.

The variation in number of units is partly attributed to currency rates with the strength of the Euro and the Yen having a detrimental effect on the number of European and Japanese cars arriving in Aqaba, whilst the relative low value of the Korean KRW has resulted in a significant increase in demand for cheaper priced Korean cars.

According to estimates, approximately 65%-75% of the RoRo cargo that arrived in Aqaba in the first half of 2009 is destined for the Iraqi market.

GAC Jordan was founded in 1985 as a partnership between GAC Group, a world leader in global shipping, logistics and marine services, and local partner, Kawar Group. With two offices in the Kingdom located in Amman and Aqaba, GAC Jordan covers all cargo destinations within the Kingdom and neighboring countries and was ranked the Kingdom’s leading shipping agency in 2008 for RoRo ships and cruise ships, based on the total number of calls and volumes handled.