Gulftainer wins 35-year deal from Florida port
Sharjah, June 24, 2014
Gulftainer, a subsidiary of Crescent Enterprises and UAE-based port terminal operator, has won a 35-year concession from Port Canaveral in Florida to operate and develop its container and cargo terminal.
The move marks its expansion into the US, as part of its vision to operate 35 terminal in five continents by 2020, said a statement.
The terminal, which is set to commence operations in the fourth quarter of this year, positions Port Canaveral as the most economical and convenient ocean gateway for containerised cargo in central Florida, it said.
Under the terms of the agreement, Gulftainer will strengthen the terminal through a $100 million investment in infrastructure, equipment and locally-source human capital.
The new container and cargo terminal is expected to contribute more than $630 million to Florida’s economy, $280 million revenue to Port Canaveral and generate more than $350 million in tax contributions, said the statement.
Badr Jafar, CEO of Crescent Enterprises and chairman of Gulftainer’s executive board, said: “By bringing Gulftainer’s UAE-grown expertise and global relationships to Port Canaveral, we aim to create a new efficient and secure gateway for goods entering and leaving the southern Atlantic coastline of America.
“Gulftainer will work with the Canaveral Port Authority to provide opportunities to the local economy by investing in infrastructure, processes and people.”
John Walsh, CEO of Canaveral Port, said: “With work on the widening and deepening of the Canaveral Harbour currently in progress, the new container and multi-purpose cargo terminal will further underscore our credentials as one of the most important economic engines for our region, while providing value to Central Florida shippers and distribution facilities by lowering overall costs and offering more efficient links to the supply chain.”
Gulftainer operates and manages ports and logistics businesses in several countries in the Middle East, as well as in Brazil and Turkey. With a current handling activity of six million TEUs, the group aims to expand this to 18 million TEUs by 2020.
It has recorded consistent growth over the past decade, averaging over 12 per cent compared to global market growth of 8.6 per cent during the same period.
Port Canaveral, which has been in operation for 60 year, handles nearly four million tonnes of cargo each year, and is one of the busiest cruise ports in the world. It offers several facilities for vacationers, local visitors, cruise lines, cargo shippers and tenant businesses. - TradeArabia News Service