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King Abdullah Port throughput up 8pc in 2016

KING ABDULLAH ECONOMIC CITY, June 13, 2017

Saudi Arabia’s King Abdullah Port recorded an annual throughput of 1.4 million TEU (twenty-foot equivalent unit) by the end of 2016, an increase of about 8 per cent compared to 2015.

The port has also raised its annual capacity to more than 4 million TEU, with the completion of the infrastructure of the fifth and sixth berths. This will follow the installation and operation of the two new berths this year, providing greater competitiveness and access to the most important trade capitals in the region and the world.

It received 729 vessels in 2016, compared to 637 in 2015.

King Abdullah Port signed a funding agreement for expansion worth SR2.7 billion ($719 million) with SABB and ANB, while the volume of investments exceeded SR10 billion by the end of 2016.

Port management announced that the first phase of bulk cargo terminals is near completion and will be finalized by the end of this year, with a capacity of 3 million tons. Additionally, RORO terminals with a capacity of up to 300,000 vehicles will open by the end of 2017.

The RORO terminals were made possible after the signing of an agreement with NYK Group, one of the largest automotive logistics companies in the world. The NYK Group will oversee RORO operations.

King Abdullah Port and Vision 2030

One of the most important roles that King Abdullah Port plays in Vision 2030 is its contribution to the Kingdom’s regional and international profile as a strategic trade corridor, directly supporting national efforts to diversify the economy and harness the Kingdom's economic and trade potential as part of the overall development process.

This includes the activation of the transportation sector, which will contribute to the Kingdom’s upcoming renaissance and further energize the proliferation of public partnerships with the private sector, thus reinforcing the latter’s contribution to the gross national product.

King Abdullah Port is characterized by its strategic geographic location and integrated services. It is well-known in the shipping industry that King Abdullah Port offers the latest in technology and is under the management of a notable selection of Saudi and international experts who are working together to launch a new era of maritime transport services regionally and globally. – TradeArabia News Service




Tags: Logistics hub | TEU | King Abdullah Port |

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