It is my privilege and honor to welcome you. Summit Alliance Port Limited (SAPL) is the pioneering private sector Inland Container Depot and Off-Dock facility in Bangladesh and till today remains the largest player in the industry. For Export cargo handling SAPL significantly outperformed the industry, enjoying a year on-year growth of nearly 9% whereas the industry growth was 9.98%. There was also a tremendous growth of 28% for Import cargo handling, another area where SAPL outperformed the industry. The encouraging volume increase was further supplemented by a 4.38% growth for Empty container handling. This volume growth achievement has been a validation of SAPL’s policy of providing the highest levels of professional, dedicated quality service without compromising on rates.
Your company is hopeful that this positive momentum will continue with the expected annual increase of export volume as well as prospect of release of further import items by the National Board of Revenue to be handled at the Off-Docks. Aside from the projected revenue increase from the volume growth there has been a concerted effort to increase the rates for the various cargo handling related services being provided by the Off-Docks. As the market leader it is hoped that SAPL will greatly benefit once the enhanced rates are implemented over the course of the year. SAPL achieved a significant milestone in last year by being the only one in the Off-Dock / Inland Container Depot sector to successfully receive USD denominated financing with the 1st disbursement of USD 17.50m (out of the total sanctioned loan of USD 30.51m) taking place. This low-cost financing will benefit the company both in terms of immediate interest costs savings as well as providing opportunities for availing of further such loans as the company continues to expand.
In our efforts to retain the leadership position SAPL introduced two new services in last year:
- For the first time in the industry a Warehouse Management System (WMS) solution was introduced with the support of SAPL’s key client Kuehne+Nagel Bangladesh. With the introduction of WMS the clients will enjoy real-time information with regard to cargo stock and location.
- Through a Bare boat Charter Agreement with Chittagong Port Authority (CPA), SAPL has taken over the full operations and management of CPA’s three container vessels. The vessels, presently plying on the CPA – Pangaon ICT route, are providing SAPL with valuable experience of vessel management and helping establish the use of the river ways for container transportation in anticipation of SAPL’s own River Terminal commencing operations.
The company’s River Terminal project, which is started operations and this will add a new dimension to SAPL in terms of offering unique services to our clients. Aside from the standard export and import container movement via Chittagong Port we are aiming, in the near future, to provide direct links with the numerous ports located along the Eastern coast of India such as Kolkata, Haldia and Paradip. Moreover, with the multi-purpose equipment available at the River Terminal facility,the company is aiming to diversify its activities by handling both containerized and non-containerized cargo such as steel coils and plates in bulk.Given the tremendous potential of the River Terminal project SAPL has already identified and acquired the land required for the next phase of expansion with 13.70 acre of prime riverfront land at Muktarpur, Munshiganj being purchasedin 2015. Aside from this significant purchase we are continuously looking for opportunities to acquire more land to develop and cater to the increasing demands of our existing Off-Dock client sat Chittagong.
SAPL remains committed to its strategy of providing high quality service and foster a culture and reputation for the highest levels of governance, transparency and integrity. With this in view our Clients have staunchly supported us, acknowledging our quality even when other competitors offered lower rates. They have always valued the services provided by your company with its optimum combination of best quality service and economic rates.
I am grateful and thanks to all our colleagues at SAPL, as well as our Board of Directors for all their contributions. Most importantly I would like to thank you, our Shareholders / Owners for your continued input and support.
Warm regards.
Jowher Rizvi
Managing Director
Summit Alliance Port Limited