SHARJAH’S LARGEST PORT HANDLER SEES DOUBLE DIGIT GROWTH IN 2013 - says Peter Richards

Sharjah-based Gulftainer, one of the world's largest privately owned port management and logistics companies, continues to increase its footprint both locally and internationally, and are poised to register a double digit growth again in 2013. 

The company operates three main UAE ports: two on behalf of the Sharjah Port Authority - Sharjah Container Terminal (SCT) and Khorfakkan Container Terminal (KCT); and one in Ruwais. 

Gulftainer's group managing director, Peter Richards disclosed that the company has surged ahead with further expansion plans within existing operations to allow for greater capacity and the increasing size of vessels now requiring access to the ports. 

"Our figures are indicative of the UAE's growing influence as an import and export hub, and even more so of the east coast's popularity for containership operators,” said Richards. 

He added that it is an exciting time for the company, as it anticipates a double-digit growth this year. 

In January this year, Khorfakkan Container became the first terminal operator in the Middle East to handle the world's largest containership, CMA CGM Marco Polo, owned by the CMA CGM Group. 

Khorfakkan is one of the few ports in the world able to accommodate Marco Polo's massive 16,020 TEU capacity. 

"Having grown up with the industry here in the region, Gulftainer has evolved significantly during the past four decades and the arrival of this vessel is indicative of our forward-thinking approach and understanding of what we can expect in the years to come,” Richards added. 

Having seen volumes increase at Khorfakkan in 2012, Gulftainer has ensured it stays ahead of the trend and the terminal is well prepared to handle mega-containerships beyond the 16,000 TEU handling capacity. 

"The size of containership vessels is only expected to increase,” says Group Managing Director of Gulftainer, Peter Richards, "as clients demand more cost effective movement of cargo, and operators demand greater fuel efficiency. Marco Polo is the first of a new breed of containership vessels, something that Gulftainer has pre-empted for many years, ensuring that its facilities are more than ready to accommodate these types of vessels.” 

Its arrival at KCT was marked with a presentation from Gulftainer to Captain Igor Sikic of the Marco Polo and CMA CGM representatives; Dubai Agency Deputy General Manager, Prinson George and Arnaud Coudray, Commercial Regional Director for the Middle East Gulf. The Marco Polo proceeded to its final port at Ningbo, China having covered a total distance of approximately 20,000 nautical miles since the commencement of its voyage on Nov.7 last year. It is the first of a series of three 16,000 TEU vessels from CMA CGM, that will all be named after great explorers. 

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Gulftainer Takes Control of Three Saudi Terminals Amid Expansion

Gulftainer acquired full management control of three terminals in Saudi Arabia, the world’s biggest oil exporter, as the closely held port operator based in the United Arab Emirates seeks to expand in emerging markets.
Gulftainer bought 51 percent of Saudi Arabia’s Gulf Stevedoring Contracting Co., helping it take management control of three terminals in Jeddah and Jubail, the company said today, without disclosing the value of the transaction. The acquisition makes it the largest port operator in theMiddle East by number of terminals operated, Gulftainer said.
“Saudi Arabia is hugely important for the company’s ambition in the Middle East,” Badr Jafar, vice chairman of Gulftainer, said in an interview today. “Going forward we see the majority of the company’s growth in developing markets.”
Saudi Arabia is spending billions of dollars to develop energy and infrastructure projects in regions such as Jubail, home to several projects that are being developed with companies including Dow Chemical Co. (DOW) and Total SA. Gulftainer, with its stake in Gulf Stevedoring, is likely among companies that stand to gain from shipment of goods to help develop the projects.
Gulftainer has ports and logistics operations in the U.A.E., Iraq, Russia, Lebanon and Brazil, as well as ventures in Turkey and Pakistan. The company expects to handle more than 10 million containers in the next five years, compared with a forecast of 6 million containers this year, driven by international operations, said Jafar, who is also the chief executive of Crescent Enterprises.
Investments

The port operator is considering opportunities in Africa, America and the eastern Mediterranean region for investments, Jafar said. “The exact ports and locations are under review.”
Gulftainer also plans to invest $150 million over five years in its home base in Sharjah and the U.A.E., where it expects to raise capacity to 8 million twenty-foot equivalent units by 2015. The company plans to invest $500 million over two years as it expands in Russia and Saudi Arabia, Jafar told Bloomberg News last month.
“We have a decent amount of work cut out for ourselves this year,” Jafar said today. “It doesn’t necessarily mean we are not looking at closing transactions in the remainder of the year, but our focus will be on recent acquisitions and operations.”

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