Autoterminal Khalifa Port reports 30% Ro-Ro growth in H1

Vehicle volumes at Autoterminal Khalifa Port increased by 30% year-on-year in the first half of 2024, prompting AD Ports Group to expand yard storage by 90,000 square metres to meet growing demand. The additional space, equivalent to over 12 football fields, was added to ensure continued operations amid rising automotive trade.

AD Ports said that Autoterminal Khalifa Port’s “flexibility and ability to adapt”, supported by its partnerships with major container shipping lines such as MSC, COSCO, and CMA CGM, have played a key role in AD Ports Group’s rapid expansion. Since 2021, AD Ports Group has tripled its revenue through strategic acquisitions and organic business growth.

“Autoterminal Khalifa Port’s ability to manage such an increase in volumes efficiently and professionally, along with its commercial and operational synergies with Autoterminal Barcelona, have been crucial in facilitating the business flow for our customers, and boosting our supply chain throughput,” said Xavier Vazquez, Chief Executive Officer of Autoterminal Khalifa Port and Noatum Automotive & Ro-Ro.

In a separate announcement the company revealed that it has signed agreements with two UAE banks to refinance its syndicated loan of US$ 2.25b obtained in April 2023. The loan has been replaced by an AED 9.2b (US$ 2.5b equivalent) medium-term facility with a 2.5 years maturity, and a AED 1.0b (US$ 273m equivalent) short-term facility with a 1.5 years tenor. The two new lending facilities also extend debt maturity to 2026 and beyond.

According to AD Ports, the loans, signed at “more favourable terms”, would enable the group to save up to AED 44m (US$ 12m) in finance costs over the next 12 months.