Initiated with high expectations, Gwadar port in Pakistan, an important project under China's Belt and Road Initiative, has not fulfilled its anticipated potential nearly two decades after its completion. The port, which was officially launched in November 2016, was expected to mark the beginning of a new era for Pakistan, promising stability, peace, and prosperity. This event also signified the commencement of the China-Pakistan Economic Corridor (CPEC), aiming to connect China's western Xinjiang province with the Arabian Sea, thereby offering a shorter trade route for China and economic benefits for Pakistan.
Despite these ambitions, Gwadar has underperformed when compared to other new ports. For example, Lekki port logged 26 ships in its first year, whereas Gwadar's peak activity saw only 22 ships. The port's limited capacity, with just three berths capable of handling 137,000 standard 20-foot shipping containers annually, starkly contrasts with larger, more established ports like Karachi. Consequently, Gwadar has struggled to attract regular deep-sea shipping lines and process significant cargo volumes, impacting its ability to generate income.
Experts highlight Gwadar's strategic potential due to its location and natural deep-sea harbor, which could accommodate larger vessels than Karachi and serve as a pivotal node in the global oil trade. However, its current operational limitations and the lack of significant shipping activity underscore the challenges facing this ambitious project.
Source: dw.com