Underpinned by MSC’s business, throughput jumps 36% to 2.3M TEU.
King Abdullah Port (KAP), which is located just north of Jeddah on Saudi Arabia’s Red Sea coast, achieved another record trading performance in 2018. Its box throughput soared by 36% to 2.3M TEU with transhipment (+44% to 1.85M TEU) the fastest growing sector of the port’s business.
MSC is KAP’s largest customer and last year saw the Switzerland-based carrier further expand its network of services routed to/from the port. Moreover, MSC’s sister company Terminal Investment Ltd manages the container-handling facilities on behalf of Ports Development Company, which owns the port. It is Saudi Arabia’s first port to be fully owned, developed, and operated by the private sector.
It is this factor that Rayan Qutub, CEO of KAP, believes has been responsible for its success. “KAP constitutes a real success story in public-private sector partnerships in light of the increasingly outstanding figures it achieves year after year,” he said. “The port has become the leading driver in the maritime shipping and logistics services sector in terms of building knowledge, launching initiatives and supporting various activities in this sector.”
He stressed that following another successful year, which put the port among the fastest growing in the world, developments would continue with new ro-ro and dry bulk facilities due to come on stream.
“We are moving forward with our development plans to provide best practices in the fields of port development and operation as well as supporting logistical services,” explained Qutub. “This will increase the Kingdom’s competitive advantage on the logistics services index, and in turn effectively contribute to achieving the logistical objectives of the Kingdom’s Vision 2030.”
KAP handled its first ship in Q4 2013.