King Abdullah Port Targets 5m Teu Capacity
Plans are in place to grow King Abdullah Port’s capacity from 3m teu to 5m teu and create new logistics services.
Fahd Al Rasheed, managing director and chief executive officer of King Abdullah Economic City (KAEC), told Al Arabiya the plan, part of the company’s goal to drive to grow the city’s economy, is in line with Saudi Vision 2030.
King Abdullah Port is the Kingdom of Saudi Arabia’s newest port facility and is run by the Ports Development Company.
The port announced a 21% increase in its annual throughput compared to 2016, reaching 1,695,322 teu by the end of 2017 and becoming the second largest port in the Kingdom in terms of container handling.
Since operations started in the final quarter of 2013, the cumulative throughput reached 4,898,016 teu. The port’s management stated that the increase in annual throughput was mainly due to the increased activity in imports and exports, amounting to an average of a 4% increase (exports at 3% and imports at 5%).
In 2017, the port saw a 28% increase in transshipment volume compared to 2016, while the number of vessels received by the port increased to 820 vessels, with a 14% increase compared to 716 vessels received in 2016.
Source: Port Strategy