King Abdullah Economic City, A report issued in 2016 by Container Management magazine, a British global leader specialized in ports, navigation, maritime transportation and container handling, showed that King Abdullah Port is ranked by far the fastest growing of any in the publication's list of top 120 ports.
The report pointed out that King Abdullah Port's success in achieving rapid growth comes in light of the challenges faced by the market and a slowing down of global economic growth, with the oil sector the most affected.
Abdullah M. Hameedadin, Managing Director of the Ports Development Company, owner and developer of King Abdullah Port, commented: "All thanks to Allah, King Abdullah Port was able to triple its throughput in 2015 to be ranked the fastest growing amongst the top 120 ports worldwide. This in turn enhances the port's status and the Kingdom's strategic commercial role."
Hameedadin also praised the prominent role and outstanding efforts of all the partners in the operating sectors and their support for King Abdullah Port's developmental journey, as well as the proud achievements the port accomplished in record time. He stated that the latter comes with the objective of the Saudi ports playing a leading role in advancing the national economy.
The second fastest-growing port in the world was Khalifa Port in Abu Dhabi, which increased its throughput noticeably, while throughput at its larger neighbor in Dubai grew by just 2%.
King Abdullah Port was able to significantly enhance its capabilities and is currently moving towards important achievements in terms of the project's development in general and the operations taking place. In 2015, the annual throughput in King Abdullah Port doubled, reaching 1.3 million TEU, while the annual handling capacity increased by 50%, reaching 3 million TEU.
The management of King Abdullah Port expects to finalize the first phase of bulk cargo terminals with a capacity of 3 million tons, in addition to the RORO (roll-on/roll-off) terminals with a capacity of 300,000 CEU by the beginning of 2017. This comes specifically after announcing the strategic move of signing an SAR 2.7 million financial agreement with both SABB and ANB, which reflects the banking sector's trust in King Abdullah Port.
Run by the Ports Development Company, King Abdullah Port is the Kingdom's first port to be fully owned, developed and operated by the private sector. With its strategic location and state-of-the-art technologies, all managed by national and global experts who strive to offer the best possible services, King Abdullah Port has earned its place at the heart of the world's major shipping lines, all within a solid plan that will bring to reality its vision of becoming one of the largest ports in the world.
Source: King Abdullah Port