An extraordinary general meeting of the shareholders of Port Services Corporation, the operator of Muscat port, will be convened soon to consider liquidation of the company. The move comes in light of the fact that the renewal of the concession agreement to operate and manage the Port Sultan Qaboos for another year (2017) will not be economically viable and will not generate adequate returns for the shareholders, according to a disclosure statement on Muscat Securities Market (MSM) website. Majority state-owned Port Services Corporation’s revenue started declining substantially after the government shifted commercial activities of Muscat port to Sohar port in August 2014, in a move to covert the former into a full-fledged tourism port. (Times of Oman)