Mubasher: King Abdullah Port is ranked as the fastest growing of any in the publication’s list of top 120 ports, according to a report issued in 2016 by Container Management magazine.
King Abdullah Port succeeded to achieve rapid growth amid the challenges faced by the market and slowing down of global economic growth, with the oil sector the most affected.
Khalifa Port in Abu Dhabi was the second fastest-growing port in the world after increasing its throughput noticeably, while throughput at its larger neighbor in Dubai rose by just 2%.
In 2015, the annual throughput in King Abdullah Port doubled to 1.3 million Twenty Foot Equivalent Unit (TEU), while the annual handling capacity increased by 50% to 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.
King Abdullah Port signed a SAR 2.7 million financial agreement with both the Saudi British Bank (SABB) and Arab National Bank (ANB), which reflects the banking sector’s trust in the port.
