Gulftainer growth to soar
UAE based Gulftainer is set to see volumes soar in 2013 as it continues to expand its global footprint, with Saudi Arabia being the main driving force.
This comes with the company’s recent acquisitions of a 51% stake in Gulf Stevedoring Contracting Company (GSCCO), allowing it to assume the full management of three Saudi terminals located in Jeddah and Jubail.
Badr Jafar, vice chairman, Gulftainer, said: “Today, Gulftainer manages more terminals in the Middle East than any other port operator. Having achieved the reputation amongst shipping lines of being one of the fastest terminal operators in the world, Gulftainer is able to take its UAE-honed expertise to terminals in other high-growth markets across the world.”
But, the growth should be unexpected, according to Drewry’s Global Throughput Index, which is highlighting that the market continues to stay at 2012 levels with almost no growth.
Other international port management companies are showing up to 6% decreases on the same period last year, while China also says it’s expecting 2013 to be worse then 2008 in terms of global shipping.
Gulftainer has also invested in Brazil and Russia to ensure it is “well placed” to capitalise on the development in the ‘BRIC’ economics where annual growth is still going strong, compared to Europe and North America.