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Yearly Volumes Surge at King Abdullah Port

14 Feb 2019 4:24 PM | Anonymous

Original news was published on 14 February 2019

King Abdullah Port concluded 2018 with an increase of 36% in its annual throughput, which reached 2.3 million TEUs by the end of the year.

The annual increase in throughput was primarily achieved in conjunction with an 8% increase in imports and exports compared to 2017, the port management said.

The results achieved by King Abdullah Port in 2018 include an increase in transshipment volume reaching 1.8 million TEUs, which is a 44% increase compared to 2017. Meanwhile, the number of vessels received by the port increased to 911 vessels, a 12% increase compared to 820 vessels in 2017.

“We achieved a record 50% increase in container handling in the first half of 2018, and 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,” Rayan Qutub, King Abdullah Port CEO, said.

Since its inception in the last quarter of 2013 the number of containers handled by the port has reached 7.2 million TEUs.

Owned by the Ports Development Company, King Abdullah Port was officially inaugurated on February 11, 2019, by Mohammed bin Salman bin Abdulaziz, the Crown Prince of Saudi Arabia.

During the ceremony, the port, which is the region’s first port to be fully owned, developed, and operated by the private sector, unveiled a number of agreements signed with several undisclosed parties.

*NEWS SOURCE

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