Saudi Ministry of Education to showcase innovations at 2025 Geneva International Exhibition    7,523 violators of residency, labor, and border security laws deported in a week    Video contradicts Israeli army account of deadly March 23 strike on Gaza paramedics    Saudi Arabia spends over $241 million to implement de-mining projects in 3 countries    Italy's Meloni government approves controversial security decree expanding police protections and penalties    Egypt submits new Gaza ceasefire and prisoner exchange proposal: Report    'Everything is possible' — Ronaldo focused on titles, not 1,000-goal milestone after Riyadh Derby win    Saudi, US military leaders discuss enhanced defense cooperation in Riyadh    King Salman Global Academy for Arabic Language launches program with Indiana University    Ronaldo brace powers Al Nassr past Al Hilal in Riyadh derby thriller    Ed Sheeran weaves Persian music into new song, Azizam    Al-Jadaan: Crown Prince's directives confirm government's ability to bring back balance to real estate market    Veteran Bollywood actor Manoj Kumar dies at 87    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Musk's X is suing India, as Tesla and Starlink plan entry    Tesla sales plunge after backlash against Elon Musk    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



New Jeddah port terminal to lure back trade: Official
Published in The Saudi Gazette on 02 - 01 - 2010

A new SR2 billion terminal in the Kingdom's main shipping hub will ease congestion and help lure back trade which had gone to other ports in the past few years, a senior official said.
Aamer Alireza, chief executive of Red Sea Gateway Terminal Co., said the facility has already started operating.
Jeddah is the main port for the world's top oil exporter but congestion has led to hefty charges for many delayed ships as well as the diversion of some shipping lines to other ports over the past two years.
“The Red Sea Gateway Terminal is part of the solution to address that problem by adding capacity and more importantly, next generation ship handling capability,” Alireza said in a recent interview. “We received our first vessels on Dec. 22.”
Red Sea Gateway is a majority owned unit of Saudi Industrial Services Co. (Sisco) and led the expansion under a 40-year scheme that allows it to build and operate the facility.
The new terminal is ramping up its volume and expects to run on its full capacity of 1.8 million TEUs (Twenty-Foot Equivalent Units) by September of next year, Alireza said.
Container trade is measured in TEUs.
Jeddah's Islamic Port (JIC), the largest in the Kingdom with a capacity of 3.2 million TEUs, represents 73 percent of the country's container traffic. It is expected to nearly double its capacity to six million TEUs by 2011 as the port's two other terminals are undergoing expansion as well.
“We will represent roughly 64 percent of that expansion, taking Jeddah (container port capacity) from 3.2 million to five million TEUs,” Alireza said.
While the capacity has increased this year, container volumes at the port are estimated to have dropped due to the global economic slump.
“This year Jeddah will (handle) three million TEUs because of the global slowdown,” Alireza said. “The transshipment business has come down in Jeddah.”
He added that Jeddah expected to see a 10 percent drop in volumes from its 3.32 million TEUs in 2008, when the port operated beyond its capacity.
“It will be very difficult to quantify exactly how much Jeddah is able to attract because of the expansion,” Alireza said.
“That will depend on the global financial situation because the shipping business is, probably after banking, the second largest industry affected by the financial crisis.”
Shipping markets have suffered in the global economic downturn though port operations have continued to make money.
Sisco holds a 57 percent stake in Red Sea Gateway and Malaysia's MMC Corporation Bhd owns 20 percent.


Clic here to read the story from its source.