Move positions Gulftainer as the only Middle East terminal operator to manage port operations in the USA

Sharjah, UAE – Gulftainer, the world’s largest privately-owned independent port operator and logistics company based in the UAE, today hosted the signing of a sister port agreement between the Department of Seaports & Customs of the Government of Sharjah and the Diamond State Port Corporation (DSPC), a corporate entity of the State of Delaware, USA.

Under the terms of the partnership, the two entities are mandated to cooperate in the development of international trade and logistics, exchange information, and build mutually beneficial commercial, technological and cultural synergies. The agreement also enables private companies within the catchment area of the respective port authorities to collaborate on trade and investment prospects.

The signing took place following the official handover of the Delaware-based Port of Wilmington from the Diamond State Port Corporation to Gulftainer to operate and develop the port over a 50-year concession period.

Gulftainer plans to invest US$580 million in developing the cargo terminal capabilities of the Port of Wilmington to enhance its overall productivity. The company’s remit includes the construction of a new 1.2 million TEU container facility worth approximately US$410 million at DuPont’s former Edgemoor site that Diamond State Port Corporation acquired in 2016.

This landmark deal represents the largest investment ever by a private UAE company in the USA.

His Excellency Sheikh Khaled bin Abdullah bin Sultan Al Qasimi, Chairman of the Department of Seaports & Customs, Sharjah Airport International Free Zone and Hamriyah Free Zone Authority, and Jeffrey Bullock, Secretary of State of Delaware, signed the agreement at the Sharjah Chamber of Commerce. Distinguished guests, Peter Richards, Group CEO of Gulftainer, and senior leadership from the Gulftainer group attended the ceremony.

Badr Jafar, Chairman of Gulftainer’s Executive Board, said: “In line with Gulftainer’s commitment to generating cross-border socio-economic impact across the globe, this sister-port agreement facilitates strategic trade and knowledge exchange between the UAE and the USA, and further boosts bilateral relations between our countries.”

Jeffrey Bullock said: “The agreement is a highly significant step in boosting economic ties between the UAE and the USA. We see this as a great opportunity to bolster the overall economy of Delaware through productive partnerships and the sharing of industry best practices.”

For his part, Peter Richards said: “Gulftainer is proud to be part of this historical moment for the UAE-US trade alliance. The strengthening of diplomatic relations between our two nations has set the stage for promising business opportunities in the years ahead.”

Gulftainer will also establish an onsite training centre for the ports and logistics industries that is expected to train up to 1,000 people every year once it reaches full capacity.

Having begun operations in 1923 as the first major port on the Delaware River, the Port of Wilmington is the top North American port for fresh fruit imports into the USA and has the largest dockside cold storage facility in the country.

In the US, Gulftainer currently operates the Canaveral Cargo Terminal in Port Canaveral in the state of Florida after winning a 35-year concession in 2015. Among other sectors, the company provides logistics services to the US space industry and all five branches of the US military.

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About Gulftainer

Gulftainer is the world’s largest privately-owned independent port operator. Established in the emirate of Sharjah in 1976, the rapidly expanding ports and logistics company has built up a strong presence in various parts of the world. In 2017 and 2016, The Seatrade Maritime Awards named Gulftainer the Terminal Operator of the Year in the Middle East, Indian Subcontinent and Africa region. Gulftainer won the 'Technology Implementation of the Year' category in the Logistics Middle East Awards 2017. It also won the Logistics Middle East CSR Initiative of the Year award in 2018.

In the UAE, the company operates two main ports on behalf of the Sharjah Port Authority – Sharjah Container Terminal (SCT) and Khorfakkan Container Terminal (KCT). Its flagship terminal, KCT, was recognised by the Journal of Commerce as the fastest terminal in the MENA region and the third-fastest in the world.

Outside the UAE, the Gulftainer Group operates and manages ports and logistics businesses in several countries including Iraq (Iraq Container Terminal, Iraq Project Terminal and Umm Qasr Logistics Centre), Pakistan (GTL-MTI), Brazil (Recife Port), Lebanon (Tripoli Container Terminal) and Turkey (Momentum Logistics). In Saudi Arabia, Gulftainer acquired a 51 per cent stake in Gulf Stevedoring Contracting Company (GSCCO) in June 2013, and now operates the Northern Container Terminal in Jeddah, Jubail Industrial Port and Jubail Commercial Port. The company’s latest facility, Canaveral Cargo Terminal in Florida, USA, opened in June 2015 following the signing of a 35-year agreement that made Gulftainer the first port management company from the Middle East to operate in the United States.

Currently handling an annual throughput of 5.2 million TEUs, Gulftainer aims to expand its global portfolio in the next 10 years to triple business volume worldwide to more than 10,000 vessel calls and triple container handling to 15 million TEUs. For further details, please visit www.gulftainer.com.  

For media enquiries, please contact:

Kathryn Bradley

PR and Communications Manager

Gulftainer

+9716 5128888

Kbradley@gulftainer.com

© Press Release 2018

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