Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- Gulftainer forays into US with 35-year Port Canaveral deal  Join our daily free Newsletter

MENAFN - Khaleej Times - 24/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) New terminal seen to contribute 630m to florida economy

the deal will give significant boost to gulftainer business and help in achieving 18 million twenty-foot equivalent unit target by 2020. — supplied photo

gulftainer on monday marked its expansion into the united states as part of its strategic vision to operate 35 terminals in five continents by 2020.

the sharjah-based firm secured a 35-year concession from port canaveral in florida state to operate and further develop its container and multi-purpose cargo terminal which will commence operations in the fourth quarter of 2014.

gulftainer a subsidiary of crescent enterprises and one of the world’s largest privately owned port management and logistics companies said this deal will give significant boost to its business and help achieving 18 million twenty-foot equivalent unit (teu) target by 2020.

chief executive of canaveral port john walsh and chief executive of crescent enterprises and chairman of gulftainer’s executive board badr jafar signed the agreement at canaveral port in the presence of 120 officials from the port and florida state.

michael corbin ambassador of the us to the uae and saud al nowais commercial counsellor from the uae embassy in washington among others were also present on the occasion.

“today is a momentous occasion not just for gulftainer but also for the uae. the seas have been facilitating international trade for centuries and such a partnership between a world-class uae-born port operator and the third largest passenger cruise port in the world promises great success” badr jafar told khaleej times from florida.

john walsh said this agreement marks a new era for port canaveral. “with work on the widening and deepening of the canaveral harbour currently in progress the new container and multi-purpose cargo terminal will further underscore our credentials as one of the most important economic engines for our region” he said.

under the terms of the agreement gulftainer will strengthen the terminal through a 100 million investment in infrastructure equipment and locally-sourced human capital.

the new container and cargo terminal is expected to contribute more than 630 million to florida’s economy 280 million in revenue to port canaveral and generate more than 350 million in tax contributions.

“by bringing gulftainer’s uae-grown expertise and global relationships to port canaveral we aim to create a new efficient and secure gateway for goods entering and leaving the southern atlantic coastline of america” jafar said. he said gulftainer would work with the canaveral port authority to provide opportunities to the local economy by investing in infrastructure processes and people.

walsh said the arrival of larger ships and increased cargo handling will add significant value to florida’s economy. he said ports operated by gulftainer are ranked first in europe middle east and africa and third globally in productivity by the journal of commerce port productivity report 2013.

“we are confident of its ability to create tangible returns for port canaveral in a short span of time” he said.

canaveral port authority commission chairman tom weinberg the decision to grant the concession to gulftainer has been taken after careful consideration and due diligence.

“this is a true game-changer that will strengthen our cargo operations” he said.

the sharjah-based gulftainer operates and manages ports and logistics businesses in several countries in the middle east as well as in brazil and turkey. it has recorded a consistent growth over the past decade averaging over 12 per cent compared to global market growth of 8.6 per cent during the same period. in 2012 gulftainer’s terminal at khorfakkan was the fastest growing trans-shipment hub in the world recording 28 per cent growth.

— muzaffarrizvikhaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Oct 1 2014 - Qatar- Super Barshim leaps to goldThe Peninsula
(MENAFN - The Peninsula) Watch out world of athletics, there's another Barshim on the rise. Literally.Qatar created sporting history in Incheon yesterday when high-jumping brothers Mutaz and Muamer ...

 Oct 1 2014 - Barshim bags goldThe Peninsula
(MENAFN - The Peninsula) Qatar's Mutaz Barshim, gold medal winner in the men's high jump, poses for a picture with Qatar Olympic Committee Secretary-General Sheikh Saoud bin Abdulrahman Al Thani and ...

 Oct 1 2014 - Court jails 68 pro-Mursi protestersThe Peninsula
(MENAFN - The Peninsula) An Egyptian court sentenced 68 people to up to 15 years in prison yesterday over protest clashes, in the latest mass sentencing of supporters of ousted Islamist president ...

 Oct 1 2014 - US, UK raids seek to reverse IS advancesThe Peninsula
(MENAFN - The Peninsula) US warplanes launched multiple strikes against Islamic State fighters in Iraq and Syria yesterday, seeking to turn up the heat on jihadists as Britain carried out its first ...

 Oct 1 2014 - Emirates A380 lands in TehranThe Peninsula
(MENAFN - The Peninsula) The Iranian captain of an Airbus A380-800 airctaft of Emirates Airline holds an Iranian national flag after landing at Tehran's IKA airport yesterday. Emirates Airline made a ...

 Oct 1 2014 - Gaza sends lions to Jordan after war damages Al Bisan zooThe Peninsula
(MENAFN - The Peninsula) Three traumatised lions entered Israel from Gaza yesterday on their way to a safer home in Jordan after their zoo was largely destroyed during the conflict in the Palestinian ...

 Oct 1 2014 - Qatar- Safe School programme to cover more schoolsThe Peninsula
(MENAFN - The Peninsula) Qatar Red Crescent (QRC) has launched the second version of its 'Safe School' programme for the academic year 2014-2015, with plans to expand its scope to encompass 25-30 ...

 Oct 1 2014 - Qatar- 18th Inter-School Quiz starts on Oct 30The Peninsula
(MENAFN - The Peninsula) The 18th Inter-School Quiz will be held at Birla Public School Auditorium on October 30 and 31.The quiz contest is open to children of all nationalities and will test the ...

 Oct 1 2014 - Qatar- Katara Eid festival to feature astronomy show, circus on iceThe Peninsula
(MENAFN - The Peninsula) An array of events that combine knowledge and entertainment are set to enthrall visitors to Katara during the upcoming Eid Al Adha holidays.Announcing the line-up of events ...

 Oct 1 2014 - Qatar- Msheireb ground to host Eid prayers againThe Peninsula
(MENAFN - The Peninsula) The historic Eid Prayer Ground located at Msheireb Downtown Doha will be open to the public for Eid Al Adha prayers this week, Msheireb Properties said yesterday.In the last ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help