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Eye of Riyadh
Eye of Riyadh
Business & Money | Monday 24 February, 2020 2:19 am |
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King Abdullah Port Winds Up 2019 With Record-breaking Increase in Annual Throughput of Bulk and General Cargo

The annual throughput of King Abdullah Port for bulk and general cargo increased to 2.98 million t by the end of 2019, compared to 689,000 t in 2018, registering a 333% increase. In addition, 85 cargo ships docked in the port in 2019 compared to 57 Ships in 2018. These numbers reflect the port’s key role in activating the Saudi logistics and maritime trade sector, increasing the competitiveness of the Kingdom, and contributing to achieving the Vision 2030 objective of increasing the percentage of non-oil exports.

The volume of import containers handled by the port in 2019 reached 203,670 TEU compared to 190,005 TEU in 2018, representing an increase of 7.2%. Meanwhile, market conditions led to a 12.2% decline in annual throughput for container handling. This can be attributed to the current tensions in trade relations between China and the United States, together with a decrease in transshipment operations caused by recent changes in shipping lines. Several freight ship companies are undergoing ship adjustments and development operations in order to conform with new regulations and systems that will be applied this year in Emission Control Areas.

February 2019 saw King Abdullah Port witness the most prominent event since its inception, when it was officially inaugurated by Crown Prince HRH Prince Mohammad bin Salman. It was ranked second in the list of the fastest-growing ports in the world in 2018 according to Alphaliner, the leading global specialist in analyzing maritime transport data, port capabilities, and the future of ships and shipping routes around the world. The port also received the MSC MINA container ship, one of the largest in the world, during its first visit to the Kingdom.

Run by the Ports Development Company, King Abdullah Port is the region’s first port to be fully owned, developed and operated by the private sector. It has been listed as the fastest-growing container port and one of the world’s 100 largest ports after less than four years of operation. 10 of the largest shipping lines work at the port to offer integrated services to importers and exporters. King Abdullah Port’s development plan is proceeding at a steady pace and it is set to consolidate its place among the leading ports globally. The port’s advanced facilities and proximity to a bonded and re-export zone and logistics park offer clients world-class logistics support to enable them to achieve their desired growth.

 

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